WCM Investment Management LLC Acquires 603 Shares of McKesson Corporation (NYSE:MCK)

WCM Investment Management LLC lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 0.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,082,640 shares of the company’s stock after purchasing an additional 603 shares during the quarter. McKesson accounts for about 1.9% of WCM Investment Management LLC’s portfolio, making the stock its 22nd largest position. WCM Investment Management LLC owned about 0.86% of McKesson worth $723,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of McKesson by 13.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,389 shares of the company’s stock valued at $793,000 after purchasing an additional 160 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of McKesson by 31.8% during the fourth quarter. Jones Financial Companies Lllp now owns 6,655 shares of the company’s stock valued at $3,793,000 after purchasing an additional 1,604 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in McKesson during the fourth quarter worth about $312,000. Finally, Mission Wealth Management LP grew its holdings in shares of McKesson by 49.5% in the fourth quarter. Mission Wealth Management LP now owns 2,486 shares of the company’s stock valued at $1,417,000 after acquiring an additional 823 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of McKesson stock opened at $725.90 on Wednesday. The company’s 50 day moving average price is $712.79 and its 200-day moving average price is $654.69. The stock has a market capitalization of $90.82 billion, a price-to-earnings ratio of 28.10, a P/E/G ratio of 1.46 and a beta of 0.48. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $736.96.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.18 earnings per share. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a $0.71 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. McKesson’s dividend payout ratio (DPR) is 10.99%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley upped their price target on shares of McKesson from $745.00 to $770.00 and gave the company an “overweight” rating in a research note on Wednesday, June 11th. Mizuho boosted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Finally, Wall Street Zen raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday, June 27th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $696.42.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer directly owned 1,972 shares of the company’s stock, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the transaction, the chief financial officer owned 14,760 shares of the company’s stock, valued at approximately $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,117 shares of company stock valued at $23,526,451. Company insiders own 0.08% of the company’s stock.

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.