Berger Financial Group Inc Has $363,000 Stock Position in McKesson Corporation $MCK

Berger Financial Group Inc cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 17.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 495 shares of the company’s stock after selling 108 shares during the period. Berger Financial Group Inc’s holdings in McKesson were worth $363,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Bank of Jackson Hole Trust increased its holdings in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after buying an additional 41 shares in the last quarter. Saudi Central Bank purchased a new stake in McKesson in the 1st quarter valued at $34,000. Flaharty Asset Management LLC bought a new position in McKesson during the 1st quarter valued at $39,000. Finally, Pandora Wealth Inc. purchased a new position in McKesson during the 1st quarter worth $40,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.4%

Shares of NYSE MCK opened at $740.82 on Tuesday. The stock has a fifty day simple moving average of $703.30 and a two-hundred day simple moving average of $704.05. McKesson Corporation has a 1-year low of $482.44 and a 1-year high of $776.14. The firm has a market cap of $92.14 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 1.32 and a beta of 0.52.

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

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis 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 dividend payout ratio is currently 13.08%.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction 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 sale, the chief accounting officer directly owned 657 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the firm’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Cowen reissued a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Wells Fargo & Company lifted their target price on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Bank of America upped their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Finally, Citigroup upped their price objective on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $829.08.

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.