Consolidated Planning Corp Acquires 228 Shares of McKesson Corporation $MCK

Consolidated Planning Corp raised its holdings in shares of McKesson Corporation (NYSE:MCK) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,246 shares of the company’s stock after purchasing an additional 228 shares during the quarter. Consolidated Planning Corp’s holdings in McKesson were worth $1,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of MCK. Bank of Jackson Hole Trust lifted its position in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after purchasing an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the period. Saudi Central Bank purchased a new stake in shares of McKesson in the first quarter valued at $34,000. Flaharty Asset Management LLC purchased a new stake in shares of McKesson in the first quarter valued at $39,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of McKesson in the first quarter valued at $40,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MCK. Mizuho increased their target price on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Leerink Partners increased their target price on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. increased their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Cowen reissued a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $829.08.

McKesson Price Performance

MCK stock opened at $765.57 on Thursday. The company has a market capitalization of $95.22 billion, a PE ratio of 30.52, a P/E/G ratio of 1.39 and a beta of 0.51. McKesson Corporation has a 12 month low of $480.39 and a 12 month high of $776.14. The firm’s 50-day moving average is $701.10 and its 200 day moving average is $701.71.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.88 EPS. Sell-side analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

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

Insider Transactions at McKesson

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

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.