Baird Financial Group Inc. Purchases 2,044 Shares of McKesson Corporation $MCK

Baird Financial Group Inc. increased its position in McKesson Corporation (NYSE:MCK) by 5.7% in the second quarter, Holdings Channel.com reports. The firm owned 38,219 shares of the company’s stock after acquiring an additional 2,044 shares during the period. 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 large investors also recently added to or reduced their stakes in the business. Solstein Capital LLC grew its position in shares of McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the period. GFG Capital LLC bought a new position in McKesson in the second quarter valued at approximately $30,000. Saudi Central Bank acquired a new stake in McKesson during the 1st quarter worth $34,000. Flaharty Asset Management LLC bought a new stake in shares of McKesson during the 1st quarter valued at $39,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of McKesson during the 2nd quarter valued at $39,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MCK shares. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a report on Monday. Evercore ISI reaffirmed an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Bank of America upped their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $887.69.

McKesson Price Performance

MCK stock opened at $807.83 on Friday. The stock has a market capitalization of $99.71 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.34 and a beta of 0.38. McKesson Corporation has a fifty-two week low of $558.13 and a fifty-two week high of $895.58. The business has a 50-day moving average of $815.45 and a 200-day moving average of $744.94.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is presently 10.21%.

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.