WBI Investments LLC Invests $2.40 Million in McKesson Corporation $MCK

WBI Investments LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,563 shares of the company’s stock, valued at approximately $2,398,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in McKesson by 21.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,959 shares of the company’s stock valued at $13,654,000 after purchasing an additional 4,299 shares during the period. Occudo Quantitative Strategies LP bought a new stake in McKesson in the 4th quarter valued at $406,000. NorthRock Partners LLC boosted its stake in McKesson by 114.0% in the 4th quarter. NorthRock Partners LLC now owns 1,348 shares of the company’s stock valued at $768,000 after purchasing an additional 718 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in McKesson in the 4th quarter valued at $2,382,000. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer directly owned 27,872 shares of the company’s stock, valued at $19,735,884.48. This trade represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock valued at $30,438,602 in the last three months. 0.08% of the stock is owned by insiders.

McKesson Stock Performance

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

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period last year, the firm posted $7.88 EPS. McKesson’s quarterly revenue was up 23.4% on a year-over-year basis. On average, research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This is an increase from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson’s payout ratio is presently 13.08%.

Wall Street Analysts Forecast Growth

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

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.