CW Advisors LLC Boosts Stock Holdings in McKesson Corporation $MCK

CW Advisors LLC lifted its position in shares of McKesson Corporation (NYSE:MCK) by 282.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,008 shares of the company’s stock after acquiring an additional 8,130 shares during the period. CW Advisors LLC’s holdings in McKesson were worth $8,067,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Solstein Capital LLC increased its holdings in shares of McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of McKesson during the second quarter valued at $30,000. Saudi Central Bank bought a new stake in McKesson in the 1st quarter worth about $34,000. Flaharty Asset Management LLC purchased a new position in McKesson in the 1st quarter worth about $39,000. Finally, Loomis Sayles & Co. L P bought a new position in McKesson during the 2nd quarter valued at about $39,000. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of MCK stock opened at $813.61 on Friday. The company has a market cap of $100.42 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.33 and a beta of 0.38. McKesson Corporation has a 1 year low of $558.13 and a 1 year high of $895.58. The firm has a fifty day moving average price of $814.51 and a 200-day moving average price of $744.37.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the business earned $7.07 earnings per share. McKesson’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts expect 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 paid a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 10.21%.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on MCK shares. Robert W. Baird lifted their price target on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Citigroup raised their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Mizuho upped their price objective on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

McKesson Company 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.