Counterpoint Mutual Funds LLC Makes New $1.91 Million Investment in McKesson Corporation $MCK

Counterpoint Mutual Funds LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,607 shares of the company’s stock, valued at approximately $1,910,000.

A number of other large investors also recently bought and sold shares of MCK. Capital A Wealth Management LLC purchased a new position in McKesson during the fourth quarter worth approximately $26,000. Bank of Jackson Hole Trust raised its stake in shares of McKesson by 64.3% in the 1st 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. CBIZ Investment Advisory Services LLC raised its stake in shares of McKesson by 1,366.7% in the 1st 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. Saudi Central Bank purchased a new position in shares of McKesson in the 1st quarter valued at $34,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of McKesson in the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $697.05 on Tuesday. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The company has a 50-day simple moving average of $694.76 and a 200-day simple moving average of $697.18. The firm has a market capitalization of $86.70 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.39 and a beta of 0.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same period last year, the firm posted $7.88 earnings per share. The company’s quarterly revenue was up 23.4% on a year-over-year basis. Equities 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 will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCK. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday. Cowen reissued a “buy” rating on shares of McKesson in a research note on Thursday, August 7th. Evercore ISI raised their target price on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Wells Fargo & Company raised their target price on shares of McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $810.00 target price (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $725.10.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated 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 directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer directly owned 27,872 shares of the company’s stock, valued at $19,735,884.48. The trade was a 41.00% decrease in their ownership of the stock. 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 over the last ninety days. Company insiders own 0.08% of the company’s stock.

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.