McKesson Corporation $MCK Stock: Leuthold Group LLC Grows Holdings

Leuthold Group LLC boosted its stake in McKesson Corporation (NYSE:MCK) by 9.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 16,823 shares of the company’s stock after buying an additional 1,469 shares during the period. McKesson makes up 1.3% of Leuthold Group LLC’s portfolio, making the stock its 12th largest holding. Leuthold Group LLC’s holdings in McKesson were worth $14,364,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Fulcrum Asset Management LLP grew its position in shares of McKesson by 156.8% during the 3rd quarter. Fulcrum Asset Management LLP now owns 53,198 shares of the company’s stock worth $46,007,000 after purchasing an additional 32,482 shares in the last quarter. Beverly Hills Private Wealth LLC increased its holdings in shares of McKesson by 2.5% during the third quarter. Beverly Hills Private Wealth LLC now owns 1,924 shares of the company’s stock worth $1,643,000 after purchasing an additional 47 shares during the period. Hager Investment Management Services LLC raised its position in shares of McKesson by 20.7% in the third quarter. Hager Investment Management Services LLC now owns 1,562 shares of the company’s stock valued at $1,334,000 after buying an additional 268 shares in the last quarter. University of Texas Texas AM Investment Management Co. raised its position in shares of McKesson by 57.6% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 156 shares of the company’s stock valued at $133,000 after buying an additional 57 shares in the last quarter. Finally, M Holdings Securities Inc. bought a new stake in shares of McKesson in the third quarter valued at approximately $5,743,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Evercore reaffirmed an “outperform” rating and issued a $950.00 price target (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. UBS Group upped their price objective on shares of McKesson from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Bank of America increased their price objective on shares of McKesson from $950.00 to $1,050.00 in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $1,026.18.

McKesson Trading Down 0.1%

MCK opened at $1,059.43 on Tuesday. The company has a market cap of $123.52 billion, a P/E ratio of 27.24, a PEG ratio of 2.13 and a beta of 0.27. The company’s 50 day moving average is $941.40 and its 200-day moving average is $869.30. McKesson Corporation has a 1-year low of $723.68 and a 1-year high of $1,121.50.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.72 by $0.96. McKesson had a net margin of 1.12% and a negative return on equity of 235.48%. The business had revenue of $110.96 billion during the quarter, compared to analysts’ expectations of $109.90 billion. During the same period in the prior year, the company earned $9.86 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts forecast that McKesson Corporation will post 46.21 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, December 1st. McKesson’s payout ratio is 9.67%.

Insider Activity at McKesson

In other news, EVP Francisco Fraga sold 800 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the completion of the transaction, the executive vice president owned 5,423 shares of the company’s stock, valued at $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This trade represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,161 shares of company stock valued at $2,242,515 in the last ninety days. 0.06% of the stock is currently owned by insiders.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers.

The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care.

Founded in 1833, McKesson serves customers primarily in the United States and Canada.