ABN Amro Investment Solutions Makes New $1.66 Million Investment in McKesson Corporation $MCK

ABN Amro Investment Solutions purchased a new position in McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,270 shares of the company’s stock, valued at approximately $1,663,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its position in shares of McKesson by 46.3% during the 4th 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 during the period. Burling Wealth Partners LLC bought a new position in McKesson during the first quarter valued at about $202,000. Cullen Frost Bankers Inc. grew its holdings in McKesson by 5.5% during the first quarter. Cullen Frost Bankers Inc. now owns 2,883 shares of the company’s stock worth $1,940,000 after acquiring an additional 150 shares during the period. Bailard Inc. raised its position in McKesson by 1.5% in the first quarter. Bailard Inc. now owns 2,043 shares of the company’s stock worth $1,375,000 after acquiring an additional 31 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in McKesson by 1.2% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,160 shares of the company’s stock valued at $2,126,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of the company’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 transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MCK shares. UBS Group lifted their price objective on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Citigroup raised their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Bank of America raised their price objective on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company boosted their target price on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $887.69.

McKesson Trading Down 0.5%

Shares of NYSE MCK opened at $842.26 on Friday. McKesson Corporation has a one year low of $558.13 and a one year high of $867.63. The business has a 50-day moving average price of $773.51 and a two-hundred day moving average price of $729.42. The firm has a market capitalization of $103.96 billion, a PE ratio of 33.58, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last posted its quarterly 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 net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same period 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. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared 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. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is currently 10.21%.

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.