611 Shares in McKesson Corporation $MCK Bought by Syverson Strege & Co

Syverson Strege & Co bought a new position in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 611 shares of the company’s stock, valued at approximately $448,000.

Other institutional investors have also modified their holdings of the company. Solstein Capital LLC grew its holdings in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Bank of Jackson Hole Trust boosted its holdings in shares of McKesson by 64.3% in the first 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 in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of McKesson by 1,366.7% in the first 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 in the last quarter. GFG Capital LLC bought a new position in shares of McKesson in the second quarter valued at approximately $30,000. Finally, Saudi Central Bank bought a new position in McKesson during the 1st quarter valued at $34,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Wells Fargo & Company lifted their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Jefferies Financial Group lifted their price target on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. JPMorgan Chase & Co. lifted their target price on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $839.15.

McKesson Price Performance

Shares of NYSE MCK opened at $811.96 on Friday. The company has a market capitalization of $100.99 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52. McKesson Corporation has a one year low of $498.32 and a one year high of $846.32. The business’s 50-day moving average price is $741.39 and its two-hundred day moving average price is $718.80.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is 13.08%.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $218,347.43. Following the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by corporate insiders.

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.