TD Asset Management Inc Has $551.69 Million Stock Position in McKesson Corporation $MCK

TD Asset Management Inc lessened its holdings in McKesson Corporation (NYSE:MCK) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 752,872 shares of the company’s stock after selling 30,533 shares during the period. TD Asset Management Inc’s holdings in McKesson were worth $551,690,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in McKesson by 46.3% during 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 last quarter. GAMMA Investing LLC boosted its stake in McKesson by 12.5% during the 1st quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock valued at $2,393,000 after purchasing an additional 396 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in McKesson by 71.1% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 727 shares of the company’s stock valued at $489,000 after purchasing an additional 302 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock valued at $123,332,000 after purchasing an additional 7,556 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its stake in McKesson by 16.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock valued at $524,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MCK shares. Mizuho boosted their price target on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. TD Cowen boosted their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Jefferies Financial Group set a $900.00 price target on shares of McKesson and gave the stock a “buy” rating in a report on Monday. Finally, Bank of America boosted their price target on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $834.54.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,189 shares of company stock worth $16,722,190. Insiders own 0.08% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $768.79 on Tuesday. The firm has a market cap of $95.62 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 1.38 and a beta of 0.52. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $776.14. The firm’s 50-day simple moving average is $708.64 and its two-hundred day simple moving average is $707.37.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business’s revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the firm posted $7.88 EPS. 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 was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s payout ratio 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.