McKesson Corporation $MCK Shares Purchased by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC boosted its holdings in McKesson Corporation (NYSE:MCK) by 14.6% during the second quarter, Holdings Channel.com reports. The fund owned 7,729 shares of the company’s stock after acquiring an additional 983 shares during the period. Motley Fool Asset Management LLC’s holdings in McKesson were worth $5,664,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MCK. 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 valued at $1,438,000 after acquiring an additional 798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in McKesson by 20.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,068 shares of the company’s stock valued at $14,075,000 after acquiring an additional 3,542 shares during the last quarter. Avidian Wealth Enterprises LLC acquired a new stake in McKesson in the 1st quarter valued at about $228,000. Kendall Capital Management grew its stake in McKesson by 4.1% in the 1st quarter. Kendall Capital Management now owns 3,144 shares of the company’s stock valued at $2,116,000 after acquiring an additional 125 shares during the last quarter. Finally, Red Cedar Investment Management LLC acquired a new stake in McKesson in the 1st quarter valued at about $867,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Mizuho upped their target price on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Morgan Stanley upped their target price on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Finally, Leerink Partners upped their target price on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $839.15.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the 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 sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,189 shares of company stock worth $16,722,190. Insiders own 0.08% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $811.69 on Tuesday. The firm has a market cap of $100.96 billion, a P/E ratio of 32.36, a PEG ratio of 1.44 and a beta of 0.52. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $811.86. The firm’s 50-day simple moving average is $731.79 and its 200-day simple moving average is $715.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 company had revenue of $97.83 billion for 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 revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.88 earnings per share. Analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

McKesson Profile

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.