Allworth Financial LP Acquires 294 Shares of McKesson Corporation $MCK

Allworth Financial LP grew its stake in McKesson Corporation (NYSE:MCK) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,739 shares of the company’s stock after purchasing an additional 294 shares during the period. Allworth Financial LP’s holdings in McKesson were worth $4,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Acadian Asset Management LLC boosted its position in McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after buying an additional 68,294 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of McKesson during the first quarter valued at $289,000. Lynwood Price Capital Management LP boosted its holdings in McKesson by 18.3% in the second quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock valued at $18,906,000 after acquiring an additional 4,000 shares during the last quarter. Archford Capital Strategies LLC increased its position in McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after purchasing an additional 1,372 shares during the period. Finally, LPL Financial LLC raised its holdings in McKesson by 12.8% during the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after purchasing an additional 17,750 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MCK shares. TD Cowen lifted their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Jefferies Financial Group lifted their target price on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. UBS Group raised their price target on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. upped their price objective on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Finally, Wells Fargo & Company raised their target price on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $887.69.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the 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 in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,189 shares of company stock valued at $16,787,319. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $855.78 on Wednesday. McKesson Corporation has a one year low of $558.13 and a one year high of $867.63. The firm has a market cap of $106.44 billion, a P/E ratio of 34.12, a P/E/G ratio of 1.46 and a beta of 0.51. The stock’s 50-day moving average is $764.28 and its 200-day moving average is $726.81.

McKesson (NYSE:MCK) last posted its earnings results 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. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same period in the prior year, the business earned $7.07 EPS. McKesson’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is currently 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.