NorthRock Partners LLC Purchases 184 Shares of McKesson Corporation $MCK

NorthRock Partners LLC raised its position in McKesson Corporation (NYSE:MCK) by 13.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,515 shares of the company’s stock after acquiring an additional 184 shares during the quarter. NorthRock Partners LLC’s holdings in McKesson were worth $1,111,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northern Trust Corp raised its stake in shares of McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after buying an additional 10,179 shares during the period. Boston Partners raised its stake in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after buying an additional 365,484 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of McKesson by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after buying an additional 107,638 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of McKesson by 16.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock worth $864,712,000 after buying an additional 181,831 shares during the period. Finally, Invesco Ltd. raised its stake in shares of McKesson by 0.7% in the first quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock worth $714,543,000 after buying an additional 7,108 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MCK shares. Bank of America raised their price objective on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price objective on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Mizuho raised their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. UBS Group increased their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley increased their target price on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $834.54.

McKesson Price Performance

NYSE MCK opened at $768.79 on Tuesday. The stock has a market capitalization of $95.62 billion, a PE ratio of 30.65, a P/E/G ratio of 1.38 and a beta of 0.52. The business has a 50 day simple moving average of $708.64 and a two-hundred day simple moving average of $707.37. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $776.14.

McKesson (NYSE:MCK) last released its quarterly earnings results 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 firm had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.88 EPS. On average, analysts anticipate 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 dividend of $0.82 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is 13.08%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on 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 $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,189 shares of company stock valued at $16,722,190 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

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.