James Investment Research Inc. Takes $533,000 Position in McKesson Corporation $MCK

James Investment Research Inc. purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 690 shares of the company’s stock, valued at approximately $533,000.

A number of other hedge funds have also recently added to or reduced their stakes in MCK. Solstein Capital LLC raised its position in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the period. State of Wyoming bought a new stake in McKesson during the 2nd quarter valued at $29,000. GFG Capital LLC acquired a new position in McKesson during the second quarter worth $30,000. Abound Wealth Management raised its holdings in McKesson by 104.3% during the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after buying an additional 24 shares during the last quarter. Finally, Delos Wealth Advisors LLC bought a new position in shares of McKesson in the second quarter valued at $35,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.6%

Shares of McKesson stock opened at $825.32 on Tuesday. The business’s fifty day simple moving average is $830.45 and its 200 day simple moving average is $771.16. McKesson Corporation has a 12 month low of $570.51 and a 12 month high of $895.58. The firm has a market capitalization of $101.87 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $7.07 earnings per share. Analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Insiders Place Their Bets

In related news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $283,476.27. Following the completion of the transaction, 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 position. 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

Several equities research analysts have recently commented on MCK shares. Wells Fargo & Company boosted their target price on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Morgan Stanley increased their price objective on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Finally, Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $895.79.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.