McKesson Corporation $MCK Shares Bought by PFG Advisors

PFG Advisors lifted its position in shares of McKesson Corporation (NYSE:MCK) by 67.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 605 shares of the company’s stock after buying an additional 244 shares during the period. PFG Advisors’ holdings in McKesson were worth $444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 worth $632,000 after purchasing an additional 14 shares during the period. Cardinal Point Capital Management ULC grew its holdings in shares of 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 purchasing an additional 14 shares during the period. Cypress Wealth Services LLC increased its position in McKesson by 3.7% during the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after purchasing an additional 15 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after buying an additional 16 shares during the period. Finally, Valmark Advisers Inc. raised its holdings in McKesson by 2.1% in the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MCK shares. Jefferies Financial Group boosted their price objective on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Mizuho raised their target price on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Bank of America upped their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. TD Cowen lifted their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Citigroup boosted their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $887.69.

McKesson Stock Down 0.4%

NYSE:MCK opened at $855.78 on Wednesday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63. The company has a market cap of $106.44 billion, a PE ratio of 34.12, a P/E/G ratio of 1.46 and a beta of 0.51. The business’s 50 day moving average is $764.28 and its two-hundred day moving average is $726.81.

McKesson (NYSE:MCK) last announced 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. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the prior year, the firm earned $7.07 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is 10.21%.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,189 shares of company stock valued at $16,787,319 in the last 90 days. Insiders own 0.08% of the company’s stock.

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.