McKesson Corporation $MCK Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its position in McKesson Corporation (NYSE:MCK) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 391,814 shares of the company’s stock after buying an additional 22,617 shares during the quarter. Bank of Montreal Can owned approximately 0.31% of McKesson worth $287,113,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after purchasing an additional 68,294 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in McKesson during the first quarter valued at $289,000. Archford Capital Strategies LLC raised its holdings in shares of McKesson by 151.8% during the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after purchasing an additional 1,372 shares during the period. Focus Partners Wealth lifted its position in shares of McKesson by 3.3% in the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock worth $48,159,000 after buying an additional 2,283 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after buying an additional 17,750 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $811.96 on Monday. McKesson Corporation has a 1-year low of $498.32 and a 1-year high of $846.32. The business’s fifty day moving average price is $741.39 and its two-hundred day moving average price is $719.17. The company has a market capitalization of $100.99 billion, a P/E ratio of 32.37, a PEG ratio of 1.46 and a beta of 0.52.

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 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 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 previous year, the company posted $7.88 EPS. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MCK. Deutsche Bank Aktiengesellschaft raised their target price on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. increased their price target on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. UBS Group raised their price target on McKesson from $860.00 to $920.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Leerink Partners upped 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. Finally, Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $839.15.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the 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 of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 24,189 shares of company stock valued at $16,722,190. Company insiders own 0.08% of the company’s stock.

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.