Rosenberg Matthew Hamilton Has $182,000 Position in McKesson Corporation $MCK

Rosenberg Matthew Hamilton grew its position in McKesson Corporation (NYSE:MCK) by 46.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248 shares of the company’s stock after buying an additional 79 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in McKesson were worth $182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. MassMutual Private Wealth & Trust FSB lifted its position in shares of McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after acquiring an additional 14 shares during the period. Palisade Asset Management LLC raised its holdings in McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after buying an additional 15 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in McKesson by 0.5% during the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after buying an additional 15 shares during the last quarter. Cypress Wealth Services LLC raised its holdings in McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after buying an additional 15 shares during the last quarter. Finally, Keystone Financial Services raised its holdings in McKesson by 1.2% during the first quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock worth $945,000 after buying an additional 17 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK stock opened at $791.40 on Thursday. The firm has a 50-day moving average of $711.83 and a 200-day moving average of $708.47. The company has a market cap of $98.43 billion, a P/E ratio of 31.55, a P/E/G ratio of 1.41 and a beta of 0.52. McKesson Corporation has a one year low of $492.39 and a one year high of $792.34.

McKesson (NYSE:MCK) last announced its 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 firm had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.88 EPS. As a group, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have weighed in on MCK. Wells Fargo & Company upped their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Morgan Stanley upped their price objective on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Finally, Jefferies Financial Group upped their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $834.54.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated 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 transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction dated 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 transaction, the chief executive officer 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. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by company insiders.

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.