Richmond Investment Services LLC Takes Position in McKesson Corporation $MCK

Richmond Investment Services LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 542 shares of the company’s stock, valued at approximately $397,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of McKesson by 2.0% during the second quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after purchasing an additional 232,286 shares during the period. Geode Capital Management LLC increased 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 worth $2,057,065,000 after buying an additional 112,224 shares during the period. Northern Trust Corp raised its holdings in McKesson by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after buying an additional 10,179 shares during the last quarter. Boston Partners boosted its position in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after buying an additional 365,484 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in McKesson by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after acquiring an additional 107,638 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MCK shares. Jefferies Financial Group upped their price objective 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. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Mizuho upped their target price on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $887.69.

McKesson Stock Down 0.5%

MCK opened at $884.76 on Thursday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $895.58. The stock has a market cap of $109.20 billion, a PE ratio of 35.28, a PEG ratio of 1.46 and a beta of 0.51. The business has a 50 day moving average of $799.61 and a 200-day moving average of $738.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $7.07 earnings per share. Equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 10.21%.

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.