United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases 200 Shares of McKesson Corporation $MCK

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in McKesson Corporation (NYSE:MCK) by 16.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,400 shares of the company’s stock after purchasing an additional 200 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in McKesson were worth $1,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in McKesson by 19.1% during the first quarter. Avantax Advisory Services Inc. now owns 4,236 shares of the company’s stock worth $2,851,000 after purchasing an additional 679 shares during the period. LPL Financial LLC boosted its holdings in McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after purchasing an additional 17,750 shares in the last quarter. TCTC Holdings LLC boosted its holdings in McKesson by 25.8% during the first quarter. TCTC Holdings LLC now owns 151 shares of the company’s stock valued at $102,000 after purchasing an additional 31 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of McKesson by 39.6% in the 1st quarter. Federated Hermes Inc. now owns 54,093 shares of the company’s stock valued at $36,404,000 after purchasing an additional 15,349 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several analyst reports. Zacks Research lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Bank of America boosted their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. TD Cowen increased their target price on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Citigroup lifted their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $887.69.

McKesson Stock Performance

Shares of NYSE:MCK opened at $884.76 on Thursday. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $895.58. The firm has a market cap of $109.20 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The business has a fifty day moving average of $799.61 and a 200-day moving average of $738.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the prior year, the company earned $7.07 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by corporate insiders.

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.