McKesson Corporation $MCK Stock Position Lifted by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in McKesson Corporation (NYSE:MCK) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,566 shares of the company’s stock after buying an additional 2,227 shares during the period. ProShare Advisors LLC’s holdings in McKesson were worth $16,536,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares in the last quarter. Burling Wealth Partners LLC acquired a new position in McKesson in the first quarter worth approximately $202,000. Stephens Inc. AR raised its position in shares of McKesson by 278.9% during the first quarter. Stephens Inc. AR now owns 5,467 shares of the company’s stock worth $3,679,000 after purchasing an additional 4,024 shares during the period. CWM LLC lifted its stake in McKesson by 28.3% during the first quarter. CWM LLC now owns 13,822 shares of the company’s stock valued at $9,302,000 after buying an additional 3,053 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of McKesson by 4.8% in the 1st quarter. Signaturefd LLC now owns 4,299 shares of the company’s stock valued at $2,893,000 after acquiring an additional 197 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 0.4%

Shares of NYSE MCK opened at $855.78 on Wednesday. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $867.63. The stock has a market cap of $106.44 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 1.46 and a beta of 0.51. The company’s fifty day moving average is $764.28 and its 200-day moving average is $726.81.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the prior year, the firm earned $7.07 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. 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 (DPR) is currently 10.21%.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s 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 sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 24,189 shares of company stock valued at $16,787,319 in the last three months. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MCK. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Bank of America boosted their target price on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Mizuho upped their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Robert W. Baird increased their price objective on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Evercore ISI reissued an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

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.