CW Advisors LLC Raises Stock Position in McKesson Corporation $MCK

CW Advisors LLC grew its holdings in McKesson Corporation (NYSE:MCK) by 282.5% during 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.

A number of other hedge funds have also recently made changes to their positions in the business. JT Stratford LLC lifted its holdings in McKesson by 4.2% in the 2nd quarter. JT Stratford LLC now owns 495 shares of the company’s stock worth $363,000 after purchasing an additional 20 shares in the last quarter. Sands Capital Management LLC raised its position in shares of McKesson by 59.0% during the second quarter. Sands Capital Management LLC now owns 145,867 shares of the company’s stock valued at $106,888,000 after buying an additional 54,117 shares during the last quarter. PharVision Advisers LLC lifted its holdings in shares of McKesson by 10.0% in the second quarter. PharVision Advisers LLC now owns 353 shares of the company’s stock worth $259,000 after buying an additional 32 shares in the last quarter. Groupe la Francaise boosted its position in shares of McKesson by 92.4% during the second quarter. Groupe la Francaise now owns 458 shares of the company’s stock worth $334,000 after acquiring an additional 220 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its stake in McKesson by 2.2% during the second quarter. Beacon Pointe Advisors LLC now owns 13,288 shares of the company’s stock valued at $9,737,000 after acquiring an additional 281 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $813.61 on Friday. The company has a market cap of $100.42 billion, a PE ratio of 25.32, a price-to-earnings-growth 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 stock’s 50 day simple moving average is $814.51 and its two-hundred day simple moving average is $744.37.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping 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 firm had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter in the previous year, the business earned $7.07 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 10.21%.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, November 7th. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several research analyst reports. Leerink Partners boosted their price target on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Citigroup boosted their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wells Fargo & Company raised their price target on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Zacks Research cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, UBS Group increased their target price on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently 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.