ProVise Management Group LLC Buys 238 Shares of McKesson Corporation $MCK

ProVise Management Group LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,973 shares of the company’s stock after buying an additional 238 shares during the period. ProVise Management Group LLC’s holdings in McKesson were worth $10,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MCK. Geode Capital Management LLC raised its stake in shares of McKesson by 4.1% in the second quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock valued at $2,057,065,000 after acquiring an additional 112,224 shares during the period. Northern Trust Corp raised its position in McKesson by 0.7% in 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 during the period. Boston Partners lifted its stake 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of McKesson by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock valued at $868,237,000 after buying an additional 107,638 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 valued at $864,712,000 after buying an additional 181,831 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

MCK stock opened at $842.26 on Friday. McKesson Corporation has a 1-year low of $558.13 and a 1-year high of $867.63. The business has a 50-day moving average price of $773.51 and a 200 day moving average price of $729.42. The company has a market capitalization of $103.96 billion, a P/E ratio of 33.58, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same period in the prior year, the business earned $7.07 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate 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 issued a dividend of $0.82 per share. The ex-dividend date 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 currently 10.21%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on 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 transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America raised their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Citigroup lifted their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. TD Cowen boosted their target price on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Robert W. Baird raised their price target on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $887.69.

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.