Osaic Holdings Inc. Buys 12,847 Shares of McKesson Corporation $MCK

Osaic Holdings Inc. grew its stake in shares of McKesson Corporation (NYSE:MCK) by 49.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,670 shares of the company’s stock after acquiring an additional 12,847 shares during the quarter. Osaic Holdings Inc.’s holdings in McKesson were worth $27,764,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MCK. MassMutual Private Wealth & Trust FSB boosted its holdings in McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC boosted its stake in shares of McKesson by 2.2% in the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after buying an additional 14 shares during the last quarter. Cypress Wealth Services LLC boosted its stake in shares of McKesson by 3.7% in the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after buying an additional 15 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock worth $866,000 after acquiring an additional 16 shares during the period. Finally, Valmark Advisers Inc. increased its position in McKesson by 2.1% during the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after acquiring an additional 17 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MCK. Robert W. Baird raised their target price on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group increased their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Wells Fargo & Company raised their price objective on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. UBS Group boosted their target price on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, TD Cowen increased their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $892.86.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

McKesson Trading Down 1.6%

Shares of NYSE:MCK opened at $809.51 on Wednesday. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $895.58. The company has a market cap of $99.92 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38. The stock has a 50 day moving average of $823.03 and a 200 day moving average of $749.98.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.07 earnings per share. Equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.