McKesson Corporation $MCK Stock Position Raised by Simon Quick Advisors LLC

Simon Quick Advisors LLC increased its position in McKesson Corporation (NYSE:MCK) by 28.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,331 shares of the company’s stock after purchasing an additional 297 shares during the period. Simon Quick Advisors LLC’s holdings in McKesson were worth $975,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Solstein Capital LLC boosted its position in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the period. GFG Capital LLC acquired a new position in McKesson during the second quarter valued at $30,000. CBIZ Investment Advisory Services LLC raised its position in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after buying an additional 41 shares during the period. Bank of Jackson Hole Trust raised 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 buying an additional 18 shares during the period. Finally, Saudi Central Bank acquired a new position in McKesson during the first quarter valued at $34,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction 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 owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The shares were 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 directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by company insiders.

McKesson Trading Down 1.6%

MCK stock opened at $811.96 on Friday. McKesson Corporation has a 1 year low of $498.32 and a 1 year high of $846.32. The company has a fifty day simple moving average of $741.39 and a 200 day simple moving average of $718.80. The firm has a market cap of $100.99 billion, a PE ratio of 32.37, a PEG ratio of 1.46 and a beta of 0.52.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is presently 13.08%.

Analysts Set New Price Targets

Several research firms recently weighed in on MCK. Wells Fargo & Company upped their price target on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. Mizuho upped their price objective 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. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Jefferies Financial Group upped their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $839.15.

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.