McKesson Corporation $MCK Shares Purchased by Highland Capital Management LLC

Highland Capital Management LLC raised its position in McKesson Corporation (NYSE:MCK) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,332 shares of the company’s stock after acquiring an additional 705 shares during the period. Highland Capital Management LLC’s holdings in McKesson were worth $7,982,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCK. Bank of America increased their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a research report on Monday. Jefferies Financial Group increased their target price 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. TD Cowen boosted their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Morgan Stanley upped their price objective on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $892.86.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

McKesson Price Performance

NYSE MCK opened at $826.43 on Friday. The company has a market cap of $102.01 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.36 and a beta of 0.38. The stock has a 50-day moving average of $829.82 and a two-hundred day moving average of $754.60. McKesson Corporation has a 1-year low of $565.75 and a 1-year high of $895.58.

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

McKesson Announces Dividend

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 given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.