Mather Group LLC. Raises Position in McKesson Corporation $MCK

Mather Group LLC. grew its stake in McKesson Corporation (NYSE:MCK) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,047 shares of the company’s stock after purchasing an additional 72 shares during the quarter. Mather Group LLC.’s holdings in McKesson were worth $767,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Bank of Jackson Hole Trust grew 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 worth $29,000 after acquiring an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Saudi Central Bank bought a new stake in McKesson in the 1st quarter worth about $34,000. Flaharty Asset Management LLC purchased a new stake in McKesson in the 1st quarter valued at about $39,000. Finally, Pandora Wealth Inc. bought a new position in shares of McKesson during the 1st quarter worth approximately $40,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 3.0%

NYSE MCK opened at $737.65 on Friday. The company has a market cap of $91.75 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. The firm’s 50-day simple moving average is $696.77 and its two-hundred day simple moving average is $698.45. McKesson Corporation has a 52 week low of $472.50 and a 52 week high of $770.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $95.93 billion. During the same quarter in the previous year, the company posted $7.88 earnings per share. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MCK shares. Wells Fargo & Company upped their target price on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday. Leerink Partners raised their target price on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday. Evercore ISI lifted their target price on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America increased their price target on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen lifted their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $826.91.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is currently owned by corporate insiders.

McKesson Company 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.