King Luther Capital Management Corp Acquires 1,936 Shares of McKesson Corporation $MCK

King Luther Capital Management Corp raised its holdings in shares of McKesson Corporation (NYSE:MCK) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,981 shares of the company’s stock after acquiring an additional 1,936 shares during the quarter. King Luther Capital Management Corp’s holdings in McKesson were worth $24,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Solstein Capital LLC raised its stake in shares of McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. Bank of Jackson Hole Trust grew its holdings in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after buying an additional 41 shares in the last quarter. GFG Capital LLC bought a new position in shares of McKesson in the second quarter valued at approximately $30,000. Finally, Saudi Central Bank purchased a new position in McKesson during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. UBS Group upped their price target on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $880.15.

McKesson Trading Down 0.9%

MCK opened at $850.77 on Monday. The stock has a market capitalization of $105.82 billion, a P/E ratio of 33.92, a PEG ratio of 1.46 and a beta of 0.51. The stock has a 50-day moving average price of $757.54 and a 200-day moving average price of $724.48. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $867.63.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.82 dividend. 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 dividend payout ratio is 10.21%.

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.