Moody National Bank Trust Division raised its stake in McKesson Co. (NYSE:MCK – Free Report) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,141 shares of the company’s stock after acquiring an additional 30 shares during the period. Moody National Bank Trust Division’s holdings in McKesson were worth $1,342,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in McKesson by 324.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,235,797 shares of the company’s stock worth $1,152,107,000 after buying an additional 2,472,584 shares during the period. Norges Bank bought a new position in McKesson in the 4th quarter worth about $633,960,000. Envestnet Asset Management Inc. increased its stake in shares of McKesson by 587.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,208,193 shares of the company’s stock valued at $61,655,000 after purchasing an additional 1,032,363 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of McKesson by 94,078.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock valued at $223,628,000 after buying an additional 595,518 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of McKesson by 93.6% during the fourth quarter. Marshall Wace LLP now owns 914,258 shares of the company’s stock worth $342,956,000 after buying an additional 442,134 shares during the period. 82.69% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at McKesson
In other news, CEO Brian S. Tyler sold 3,938 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $407.00, for a total transaction of $1,602,766.00. Following the completion of the sale, the chief executive officer now directly owns 117,900 shares of the company’s stock, valued at approximately $47,985,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Brian S. Tyler sold 3,471 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $440.00, for a total transaction of $1,527,240.00. Following the transaction, the chief executive officer now owns 121,838 shares in the company, valued at approximately $53,608,720. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,938 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $407.00, for a total transaction of $1,602,766.00. Following the transaction, the chief executive officer now owns 117,900 shares in the company, valued at approximately $47,985,300. The disclosure for this sale can be found here. Insiders have sold 44,002 shares of company stock worth $18,570,541 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.
McKesson Trading Up 0.1 %
McKesson (NYSE:MCK – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $7.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.85 by $1.42. The business had revenue of $74.48 billion during the quarter, compared to analyst estimates of $70.28 billion. McKesson had a net margin of 1.32% and a negative return on equity of 252.54%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.83 earnings per share. Equities analysts forecast that McKesson Co. will post 27.17 earnings per share for the current year.
McKesson Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.59%. This is a positive change from McKesson’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, August 31st. McKesson’s dividend payout ratio (DPR) is currently 9.25%.
Analyst Ratings Changes
Several analysts recently commented on MCK shares. Morgan Stanley raised their target price on McKesson from $426.00 to $459.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. SpectralCast reaffirmed a “maintains” rating on shares of McKesson in a report on Thursday, June 29th. Argus boosted their price target on shares of McKesson from $430.00 to $450.00 in a research report on Thursday, June 29th. StockNews.com began coverage on McKesson in a research report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Finally, Mizuho boosted their price objective on McKesson from $390.00 to $427.00 in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $452.33.
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.
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