Merit Financial Group LLC Purchases 6,743 Shares of McKesson Corporation $MCK

Merit Financial Group LLC raised its position in McKesson Corporation (NYSE:MCK) by 61.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,678 shares of the company’s stock after acquiring an additional 6,743 shares during the period. Merit Financial Group LLC’s holdings in McKesson were worth $12,954,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MCK. Northern Trust Corp raised its holdings in McKesson by 0.7% during the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after buying an additional 10,179 shares during the last quarter. Boston Partners raised its holdings in shares of McKesson by 33.3% in the 1st 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of McKesson by 9.1% in the 1st 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in McKesson by 16.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock valued at $864,712,000 after purchasing an additional 181,831 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in McKesson by 0.7% during the 1st quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock valued at $714,543,000 after purchasing an additional 7,108 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their position. 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. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several analyst reports. Leerink Partners increased their price objective on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Evercore ISI upped their price target on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Mizuho lifted their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Finally, Bank of America raised 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, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $829.08.

McKesson Stock Performance

Shares of NYSE:MCK opened at $738.00 on Friday. The company has a market capitalization of $91.79 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 1.32 and a beta of 0.52. The company’s 50-day moving average is $702.60 and its 200 day moving average is $703.23. McKesson Corporation has a fifty-two week low of $480.39 and a fifty-two week high of $776.14.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the prior year, the firm posted $7.88 EPS. The business’s revenue was up 23.4% on a year-over-year basis. As a group, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.82 dividend. This is an increase 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 of this dividend was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is 13.08%.

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.