McKesson Corporation $MCK Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC lifted its stake in McKesson Corporation (NYSE:MCK) by 51.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,345 shares of the company’s stock after purchasing an additional 1,141 shares during the period. Procyon Advisors LLC’s holdings in McKesson were worth $2,584,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. IAM Advisory LLC increased its stake in shares of McKesson by 0.3% during the third quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock worth $3,019,000 after buying an additional 13 shares during the period. PDS Planning Inc increased its position in shares of McKesson by 1.1% in the 3rd quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock valued at $934,000 after purchasing an additional 13 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares in the last quarter. Cardinal Point Capital Management ULC lifted its holdings in McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after buying an additional 14 shares during the last quarter. Finally, Goldstein Advisors LLC lifted its holdings in McKesson by 4.4% during the 3rd quarter. Goldstein Advisors LLC now owns 334 shares of the company’s stock worth $258,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.3%

McKesson stock opened at $834.45 on Thursday. The stock has a market capitalization of $102.99 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.35 and a beta of 0.41. The stock has a 50 day moving average of $833.96 and a two-hundred day moving average of $764.87. McKesson Corporation has a twelve month low of $570.51 and a twelve month high of $895.58.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. McKesson’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $7.07 EPS. Equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $0.82 per share. The ex-dividend date was Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 10.21%.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI reissued an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research report on Thursday, November 6th. Jefferies Financial Group upped their target price on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. Citigroup raised their price objective on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Bank of America lifted their target price on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $895.79.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.