111 Capital Increases Stock Position in McKesson Corporation $MCK

111 Capital boosted its stake in McKesson Corporation (NYSE:MCK) by 163.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,257 shares of the company’s stock after purchasing an additional 780 shares during the quarter. 111 Capital’s holdings in McKesson were worth $921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. QRG Capital Management Inc. raised its stake in shares of McKesson by 3.9% during the second quarter. QRG Capital Management Inc. now owns 19,533 shares of the company’s stock worth $14,314,000 after acquiring an additional 733 shares in the last quarter. Ascent Group LLC raised its stake in shares of McKesson by 125.6% during the second quarter. Ascent Group LLC now owns 9,249 shares of the company’s stock worth $6,777,000 after acquiring an additional 5,150 shares in the last quarter. Hilltop National Bank purchased a new position in shares of McKesson during the second quarter worth approximately $1,233,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of McKesson by 6.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,532 shares of the company’s stock worth $16,511,000 after acquiring an additional 1,464 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of McKesson by 21.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 2,073 shares of the company’s stock worth $1,519,000 after buying an additional 360 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on MCK. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Citigroup lifted their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Bank of America lifted their target price on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Leerink Partners lifted their target price on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $829.08.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the company’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

NYSE:MCK opened at $738.00 on Friday. The firm’s 50-day moving average price is $702.60 and its 200-day moving average price is $703.23. The company has a market capitalization of $91.79 billion, a PE ratio of 29.43, a P/E/G ratio of 1.32 and a beta of 0.52. McKesson Corporation has a 1-year low of $480.39 and a 1-year high of $776.14.

McKesson (NYSE:MCK) last released its 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). The business had revenue of $97.83 billion during 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 firm’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company earned $7.88 earnings per share. Equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

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