Neuberger Berman Group LLC Acquires 62,201 Shares of McKesson Corporation (NYSE:MCK)

Neuberger Berman Group LLC grew its holdings in McKesson Corporation (NYSE:MCK) by 98.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,294 shares of the company’s stock after acquiring an additional 62,201 shares during the quarter. Neuberger Berman Group LLC’s holdings in McKesson were worth $84,322,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. CVA Family Office LLC increased its holdings in shares of McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock worth $178,000 after acquiring an additional 15 shares in the last quarter. Palisade Asset Management LLC raised its position in McKesson by 2.1% in the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock valued at $481,000 after buying an additional 15 shares during the last quarter. SteelPeak Wealth LLC raised its position in McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after buying an additional 15 shares during the last quarter. Parallel Advisors LLC raised its position in McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock valued at $1,683,000 after buying an additional 16 shares during the last quarter. Finally, Eagle Rock Investment Company LLC raised its position in McKesson by 0.4% in the 1st 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 during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.6%

NYSE:MCK opened at $662.79 on Thursday. The firm has a market capitalization of $82.44 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The stock’s 50 day moving average price is $711.09 and its two-hundred day moving average price is $680.62.

McKesson (NYSE:MCK) last posted 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 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%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the firm earned $7.88 EPS. As a group, analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is presently 11.32%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Evercore ISI lifted their target price on McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their target price on McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Cowen reissued a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $719.27.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 1,248 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the transaction, the executive vice president directly owned 2,621 shares of the company’s stock, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Britt J. Vitalone sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the transaction, the chief financial officer directly owned 14,760 shares in the company, valued at $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. Insiders sold 52,817 shares of company stock worth $37,461,210 in the last three months. 0.08% of the stock is owned by 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.