PDS Planning Inc Has $876,000 Stock Holdings in McKesson Corporation $MCK

PDS Planning Inc increased its holdings in McKesson Corporation (NYSE:MCK) by 8.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,196 shares of the company’s stock after purchasing an additional 89 shares during the period. PDS Planning Inc’s holdings in McKesson were worth $876,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GFG Capital LLC bought a new position in shares of McKesson in the second quarter valued at approximately $30,000. CBIZ Investment Advisory Services LLC raised its position in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. Bank of Jackson Hole Trust lifted its stake in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares during the period. Saudi Central Bank bought a new position in McKesson during the first quarter worth about $34,000. Finally, Flaharty Asset Management LLC bought a new position in McKesson during the first quarter worth about $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson 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 transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by company insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $763.89 on Friday. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $776.14. The stock has a market capitalization of $95.01 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.52. The company’s 50 day simple moving average is $707.48 and its 200 day simple moving average is $706.09.

McKesson (NYSE:MCK) last issued 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). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the prior year, the business earned $7.88 EPS. The business’s quarterly revenue was up 23.4% on a year-over-year basis. As a group, analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MCK shares. Evercore ISI boosted their price target on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. TD Cowen increased their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Morgan Stanley upped their target price on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $829.08.

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.