JSF Financial LLC Grows Position in McKesson Corporation $MCK

JSF Financial LLC increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 4.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,843 shares of the company’s stock after purchasing an additional 86 shares during the quarter. JSF Financial LLC’s holdings in McKesson were worth $1,351,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. TD Cowen increased their target price on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Wells Fargo & Company boosted their target price on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Evercore ISI lifted their price target on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $829.08.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% 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 quarter. Company insiders own 0.08% of the company’s stock.

McKesson Trading Down 2.7%

Shares of NYSE:MCK opened at $738.00 on Friday. The company has a fifty day simple moving average of $702.60 and a 200 day simple moving average of $703.23. The firm has a market cap of $91.79 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.32 and a beta of 0.52. McKesson Corporation has a 12-month low of $480.39 and a 12-month high of $776.14.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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). The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.88 earnings per share. 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. Stockholders 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 was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 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.