Los Angeles Capital Management LLC Raises Stake in McKesson Corporation $MCK

Los Angeles Capital Management LLC increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 32.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,045 shares of the company’s stock after acquiring an additional 15,851 shares during the period. Los Angeles Capital Management LLC owned approximately 0.05% of McKesson worth $47,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its stake in McKesson by 1.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after buying an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC increased its holdings in shares of McKesson by 2.2% during the second quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after acquiring an additional 14 shares in the last quarter. SteelPeak Wealth LLC raised its position in shares of McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after purchasing an additional 15 shares during the last quarter. Cypress Wealth Services LLC grew its position in McKesson by 3.7% during the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after purchasing an additional 15 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its stake in McKesson by 1.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $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 is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Performance

MCK opened at $850.77 on Friday. The company has a fifty day moving average of $757.54 and a 200 day moving average of $724.05. McKesson Corporation has a fifty-two week low of $558.13 and a fifty-two week high of $867.63. The stock has a market capitalization of $105.82 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $7.07 EPS. On average, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

MCK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Jefferies Financial Group boosted their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Evercore ISI reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday. Finally, TD Cowen raised their target price on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $880.15.

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.