McKesson Corporation $MCK Shares Purchased by Bailard Inc.

Bailard Inc. boosted its position in McKesson Corporation (NYSE:MCK) by 9.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,235 shares of the company’s stock after purchasing an additional 192 shares during the period. Bailard Inc.’s holdings in McKesson were worth $1,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MCK. Brighton Jones LLC boosted its holdings in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the last quarter. Burling Wealth Partners LLC purchased a new position in shares of McKesson during the first quarter worth $202,000. Larson Financial Group LLC lifted its position in McKesson by 23.1% during the first quarter. Larson Financial Group LLC now owns 1,517 shares of the company’s stock valued at $1,021,000 after purchasing an additional 285 shares during the period. Bridgewater Advisors Inc. purchased a new stake in McKesson in the first quarter valued at $399,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in McKesson by 5.5% in the first quarter. Cullen Frost Bankers Inc. now owns 2,883 shares of the company’s stock valued at $1,940,000 after purchasing an additional 150 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

McKesson stock opened at $846.21 on Friday. The stock has a market capitalization of $104.45 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The business has a 50 day simple moving average of $770.40 and a 200-day simple moving average of $728.44. McKesson Corporation has a 12 month low of $558.13 and a 12 month high of $867.63.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $7.07 EPS. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is currently 10.21%.

Insider Activity

In related 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 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. This trade represents a 74.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Robert W. Baird lifted their price objective on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. TD Cowen lifted their price target on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, UBS Group boosted their target price on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

McKesson Profile

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.