Ransom Advisory Ltd Makes New $77,000 Investment in McKesson Corporation $MCK

Ransom Advisory Ltd bought a new position in McKesson Corporation (NYSE:MCK) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 115 shares of the company’s stock, valued at approximately $77,000.

A number of other hedge funds have also added to or reduced their stakes in the business. CBIZ Investment Advisory Services LLC grew its stake in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the period. Capital A Wealth Management LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $26,000. Bank of Jackson Hole Trust grew its stake in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the period. Saudi Central Bank acquired a new stake in McKesson in the first quarter valued at approximately $34,000. Finally, Pandora Wealth Inc. acquired a new stake in McKesson in the first quarter valued at approximately $40,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating and issued a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 13th. Evercore ISI raised their price objective on McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Finally, 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, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $725.10.

McKesson Stock Up 0.0%

Shares of NYSE:MCK opened at $705.88 on Thursday. The stock has a market cap of $87.80 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.40 and a beta of 0.51. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89. The business’s 50 day moving average is $697.99 and its 200 day moving average is $692.62.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) 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 analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.88 EPS. As a group, equities research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. McKesson’s dividend payout ratio is currently 13.08%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the company’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,560 shares of company stock valued at $30,438,602 in the last 90 days. Corporate 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.