Twin City Private Wealth LLC Has $789,000 Stake in McKesson Corporation $MCK

Twin City Private Wealth LLC raised its stake in McKesson Corporation (NYSE:MCK) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,076 shares of the company’s stock after buying an additional 30 shares during the quarter. Twin City Private Wealth LLC’s holdings in McKesson were worth $789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MCK. Brighton Jones LLC lifted its stake in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the period. DAVENPORT & Co LLC lifted its stake in McKesson by 237.6% in the first quarter. DAVENPORT & Co LLC now owns 7,249 shares of the company’s stock valued at $4,879,000 after buying an additional 5,102 shares during the period. Rossby Financial LCC acquired a new position in McKesson in the first quarter valued at about $108,000. Keybank National Association OH lifted its stake in McKesson by 3.0% in the first quarter. Keybank National Association OH now owns 3,936 shares of the company’s stock valued at $2,649,000 after buying an additional 113 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its stake in McKesson by 1.2% in the first quarter. Pinnacle Financial Partners Inc now owns 2,099 shares of the company’s stock valued at $1,413,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 1.6%

NYSE:MCK opened at $811.96 on Friday. McKesson Corporation has a twelve month low of $498.32 and a twelve month high of $846.32. The business has a 50 day moving average price of $741.39 and a two-hundred day moving average price of $718.80. The company has a market cap of $100.99 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52.

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

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is 13.08%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group increased their target price on McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Leerink Partners raised their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Zacks Research raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $839.15.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was 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 of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 24,189 shares of company stock valued at $16,722,190. Insiders own 0.08% of the company’s stock.

McKesson Company 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.