CHURCHILL MANAGEMENT Corp Acquires New Stake in McKesson Corporation $MCK

CHURCHILL MANAGEMENT Corp bought a new position in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,098 shares of the company’s stock, valued at approximately $3,736,000.

Several other institutional investors also recently made changes to their positions in MCK. Nuveen LLC purchased a new stake in shares of McKesson during the 1st quarter worth $475,235,000. Wellington Management Group LLP raised its stake in shares of McKesson by 4,559.6% during the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after buying an additional 418,524 shares during the last quarter. Boston Partners raised its stake in shares of McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after buying an additional 365,484 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of McKesson by 92.3% during the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after buying an additional 312,473 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in shares of McKesson during the 1st quarter worth $140,742,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Down 0.9%

Shares of MCK stock opened at $765.57 on Thursday. The firm has a 50-day moving average price of $701.10 and a 200 day moving average price of $701.71. McKesson Corporation has a twelve month low of $480.39 and a twelve month high of $776.14. The company has a market capitalization of $95.22 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.39 and a beta of 0.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.88 EPS. As a group, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,560 shares of company stock valued at $30,438,602 in the last 90 days. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCK. Evercore ISI lifted their price target on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Wells Fargo & Company lifted their price target on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, UBS Group lifted their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $829.08.

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.