Bogart Wealth LLC Has $86,000 Stock Holdings in McKesson Corporation $MCK

Bogart Wealth LLC boosted its position in shares of McKesson Corporation (NYSE:MCK) by 122.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 118 shares of the company’s stock after buying an additional 65 shares during the quarter. Bogart Wealth LLC’s holdings in McKesson were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of MCK. Northern Trust Corp grew its holdings in shares of McKesson by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after purchasing an additional 10,179 shares in the last quarter. Boston Partners lifted 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 purchasing an additional 365,484 shares during the period. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 107,638 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in McKesson by 16.5% during 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 buying an additional 181,831 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in McKesson by 0.7% in the 1st quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock valued at $714,543,000 after buying an additional 7,108 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCK. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Jefferies Financial Group upped their target price on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. UBS Group raised their price target on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Finally, Leerink Partners increased their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $834.54.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on 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 approximately $436,031.19. This represents a 33.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the company’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 transaction, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock valued at $16,722,190 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

McKesson Trading Down 0.1%

Shares of McKesson stock opened at $786.96 on Wednesday. The stock has a market capitalization of $97.88 billion, a price-to-earnings ratio of 31.38, a P/E/G ratio of 1.42 and a beta of 0.52. The firm’s 50-day moving average price is $721.34 and its two-hundred day moving average price is $711.29. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $793.97.

McKesson (NYSE:MCK) last released its quarterly 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). 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 the consensus estimate of $95.93 billion. During the same period in the prior year, the firm earned $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 predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued 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 dividend 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.