Baird Financial Group Inc. Has $28.01 Million Stock Holdings in McKesson Corporation $MCK

Baird Financial Group Inc. boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,219 shares of the company’s stock after purchasing an additional 2,044 shares during the quarter. Baird Financial Group Inc.’s holdings in McKesson were worth $28,006,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Acadian Asset Management LLC lifted its stake in shares of McKesson by 22.0% in the first 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 period. KG&L Capital Management LLC increased its stake in McKesson by 114.8% during the second quarter. KG&L Capital Management LLC now owns 698 shares of the company’s stock valued at $511,000 after acquiring an additional 373 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in McKesson by 8,018.0% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,177 shares of the company’s stock valued at $9,823,000 after acquiring an additional 12,027 shares in the last quarter. CW Advisors LLC raised its holdings in McKesson by 282.5% in the 2nd quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock valued at $8,067,000 after acquiring an additional 8,130 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of McKesson in the 1st quarter worth approximately $289,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $807.83 on Friday. The company has a market cap of $99.71 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.34 and a beta of 0.38. The stock has a fifty day moving average price of $815.45 and a two-hundred day moving average price of $744.94. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $103.80 billion. During the same period last year, the company posted $7.07 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders 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 payout ratio is currently 10.21%.

Insider Activity

In other 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 transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Mizuho boosted 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 raised their price objective on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Bank of America lifted their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Evercore ISI reissued an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average 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.