McKesson Corporation $MCK Stock Holdings Lifted by Ascent Group LLC

Ascent Group LLC raised its position in McKesson Corporation (NYSE:MCK) by 125.6% during the second quarter, HoldingsChannel.com reports. The firm owned 9,249 shares of the company’s stock after buying an additional 5,150 shares during the quarter. Ascent Group LLC’s holdings in McKesson were worth $6,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares in the last quarter. CVA Family Office LLC grew its stake in McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock valued at $178,000 after purchasing an additional 15 shares in the last quarter. Palisade Asset Management LLC grew its stake in McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock valued at $481,000 after purchasing an additional 15 shares in the last quarter. SteelPeak Wealth LLC boosted its stake in shares of McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after acquiring an additional 15 shares in the last quarter. Finally, Eagle Rock Investment Company LLC boosted its stake in shares of McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company’s stock worth $3,229,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,560 shares of company stock valued at $30,438,602. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. Bank of America upped their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Deutsche Bank Aktiengesellschaft upped their price target on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. TD Cowen upped their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Morgan Stanley upped their price target on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. One 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, McKesson currently has an average rating of “Moderate Buy” and an average target price of $829.08.

McKesson Stock Performance

NYSE MCK opened at $738.00 on Friday. McKesson Corporation has a twelve month low of $480.39 and a twelve month high of $776.14. The stock has a market capitalization of $91.79 billion, a PE ratio of 29.43, a P/E/G ratio of 1.36 and a beta of 0.52. The stock has a 50-day simple moving average of $702.60 and a 200 day simple moving average of $702.96.

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

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is currently 13.08%.

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.