McKesson Corporation $MCK Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 17.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,854 shares of the company’s stock after purchasing an additional 2,087 shares during the period. Sterling Capital Management LLC’s holdings in McKesson were worth $10,152,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. Solstein Capital LLC grew its holdings in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Bank of Jackson Hole Trust lifted its position 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 acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. GFG Capital LLC acquired a new position in shares of McKesson in the second quarter valued at approximately $30,000. Finally, Saudi Central Bank acquired a new stake in shares of McKesson during the first quarter worth $34,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MCK. Mizuho boosted their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Evercore ISI reissued an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday. Morgan Stanley lifted their price objective on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Leerink Partners increased their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. One 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 stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $880.15.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company’s stock.

McKesson Stock Performance

MCK opened at $857.36 on Friday. The business’s fifty day moving average is $754.25 and its two-hundred day moving average is $722.89. The company has a market cap of $106.64 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 1.46 and a beta of 0.51. McKesson Corporation has a one year low of $558.13 and a one year high of $863.32.

McKesson (NYSE:MCK) last announced its quarterly earnings results 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. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter last year, the business posted $7.07 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.82 dividend. 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 presently 10.21%.

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.