Transcend Capital Advisors LLC Purchases Shares of 920 McKesson Co. (NYSE:MCK)

Transcend Capital Advisors LLC purchased a new stake in McKesson Co. (NYSE:MCK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 920 shares of the company’s stock, valued at approximately $537,000.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after buying an additional 46,659 shares during the period. Norges Bank acquired a new position in shares of McKesson during the 4th quarter worth approximately $1,024,140,000. Putnam Investments LLC raised its stake in shares of McKesson by 3.2% during the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares during the period. Swedbank AB acquired a new position in shares of McKesson during the 1st quarter worth approximately $669,326,000. Finally, Boston Partners raised its stake in shares of McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after buying an additional 47,140 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of NYSE MCK traded up $1.29 during mid-day trading on Friday, reaching $630.38. 881,722 shares of the company’s stock were exchanged, compared to its average volume of 666,040. The firm has a market capitalization of $81.91 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.46 and a beta of 0.45. McKesson Co. has a 52-week low of $404.72 and a 52-week high of $637.51. The company’s 50-day moving average is $588.74 and its 200-day moving average is $547.10.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.19 earnings per share. As a group, equities analysts predict that McKesson Co. will post 31.68 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson’s dividend payout ratio is presently 11.08%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley boosted their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Argus boosted their price target on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Wells Fargo & Company boosted their price target on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Barclays boosted their price target on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $599.33.

Insider Buying and Selling

In related news, Director Maria Martinez sold 483 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other McKesson news, Director Susan R. Salka sold 606 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Maria Martinez sold 483 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,567 shares of company stock valued at $16,691,841. Corporate insiders own 0.11% of the company’s stock.

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.