McKesson Corporation $MCK Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its stake in shares of McKesson Corporation (NYSE:MCK) by 3.0% in the third quarter, HoldingsChannel reports. The firm owned 22,162 shares of the company’s stock after buying an additional 644 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in McKesson were worth $16,987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the period. Caxton Associates LLP purchased a new stake in shares of McKesson in the first quarter valued at $233,000. Sivia Capital Partners LLC increased its stake in McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Sound Income Strategies LLC lifted its position in McKesson by 78.8% during the second quarter. Sound Income Strategies LLC now owns 59 shares of the company’s stock worth $43,000 after buying an additional 26 shares during the period. Finally, Truist Financial Corp boosted its stake in McKesson by 2.5% in the 2nd quarter. Truist Financial Corp now owns 74,841 shares of the company’s stock worth $54,842,000 after buying an additional 1,811 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on MCK shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. TD Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Monday, December 22nd. Zacks Research lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Robert W. Baird set a $968.00 price objective on McKesson in a report on Wednesday, January 14th. Finally, Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $899.36.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their position. The SEC filing for this sale provides additional information. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Down 0.7%

McKesson stock opened at $820.85 on Friday. The firm has a market capitalization of $101.32 billion, a P/E ratio of 25.55, a PEG ratio of 1.36 and a beta of 0.41. The firm has a fifty day moving average of $828.79 and a 200-day moving average of $772.77. McKesson Corporation has a 52-week low of $570.51 and a 52-week high of $895.58.

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

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 10.21%.

McKesson 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.