XML Financial LLC Raises Holdings in McKesson Corporation $MCK

XML Financial LLC increased its holdings in McKesson Corporation (NYSE:MCK) by 88.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 623 shares of the company’s stock after acquiring an additional 292 shares during the period. XML Financial LLC’s holdings in McKesson were worth $457,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Northern Trust Corp grew its position in McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after acquiring an additional 10,179 shares during the period. Boston Partners grew its position in McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after acquiring an additional 365,484 shares during the period. Price T Rowe Associates Inc. MD grew its position in McKesson by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after acquiring an additional 107,638 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in McKesson by 16.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock worth $864,712,000 after acquiring an additional 181,831 shares during the period. Finally, Invesco Ltd. boosted its position in shares of McKesson by 0.7% during the first quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock worth $714,543,000 after buying an additional 7,108 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is owned by insiders.

McKesson Trading Up 1.4%

NYSE:MCK opened at $772.61 on Wednesday. The firm has a market cap of $96.10 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The stock has a fifty day moving average price of $700.06 and a 200 day moving average price of $701.27. McKesson Corporation has a 12-month low of $480.39 and a 12-month high of $774.85.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion during 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 company’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter last year, the business posted $7.88 earnings per share. Equities analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared 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. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 2nd. McKesson’s payout ratio is 13.08%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research analyst reports. Evercore ISI raised their price target on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Citigroup raised their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners raised their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Wells Fargo & Company raised their price target on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Finally, UBS Group raised their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $829.08.

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.