Strs Ohio Buys Shares of 183,476 McKesson Corporation $MCK

Strs Ohio bought a new stake in McKesson Corporation (NYSE:MCK) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 183,476 shares of the company’s stock, valued at approximately $123,478,000. McKesson accounts for about 0.5% of Strs Ohio’s holdings, making the stock its 24th biggest holding. Strs Ohio owned about 0.15% of McKesson at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCK. Oppenheimer Asset Management Inc. boosted its stake in shares of McKesson by 54.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock valued at $3,056,000 after purchasing an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of McKesson by 16.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock valued at $524,000 after purchasing an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of McKesson by 18.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock valued at $15,501,000 after purchasing an additional 3,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of McKesson by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock worth $123,332,000 after purchasing an additional 7,556 shares during the period. Finally, LPL Financial LLC lifted its position in shares of McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after purchasing an additional 17,750 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the company’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction 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 $19,735,884.48. This trade represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,560 shares of company stock valued at $30,438,602 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Cowen reiterated a “buy” rating on shares of McKesson in a research note on Thursday, August 7th. Wells Fargo & Company increased their price target on shares of McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 13th. Wall Street Zen downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 13th. Morgan Stanley reissued an “overweight” rating and issued a $810.00 price target (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Finally, Evercore ISI raised their target price on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $725.10.

McKesson Stock Performance

Shares of McKesson stock opened at $705.88 on Thursday. The stock has a market capitalization of $87.80 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.40 and a beta of 0.51. The company’s 50 day moving average price is $697.99 and its 200-day moving average price is $692.62. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate 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 previous year, the company earned $7.88 EPS. The company’s quarterly revenue was up 23.4% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.5%. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

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.