Motco Buys 14,613 Shares of McKesson Corporation $MCK

Motco increased its stake in McKesson Corporation (NYSE:MCK) by 50,389.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,642 shares of the company’s stock after purchasing an additional 14,613 shares during the period. Motco’s holdings in McKesson were worth $11,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Mechanics Bank Trust Department boosted its position in shares of McKesson by 25.7% during the third quarter. Mechanics Bank Trust Department now owns 3,995 shares of the company’s stock worth $3,086,000 after buying an additional 817 shares during the period. Commonwealth Equity Services LLC lifted its stake in McKesson by 0.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 48,879 shares of the company’s stock valued at $37,761,000 after acquiring an additional 201 shares in the last quarter. Stanley Laman Group Ltd. boosted its position in McKesson by 0.4% during the 3rd quarter. Stanley Laman Group Ltd. now owns 5,647 shares of the company’s stock worth $4,363,000 after acquiring an additional 23 shares during the last quarter. InTrack Investment Management Inc grew its stake in shares of McKesson by 1.3% during the 3rd quarter. InTrack Investment Management Inc now owns 3,537 shares of the company’s stock worth $2,732,000 after acquiring an additional 47 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its holdings in shares of McKesson by 11.1% in the third quarter. Gateway Investment Advisers LLC now owns 3,937 shares of the company’s stock valued at $3,042,000 after purchasing an additional 393 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 0.4%

Shares of NYSE MCK opened at $823.28 on Monday. The business’s 50 day moving average price is $833.68 and its two-hundred day moving average price is $759.51. The company has a market cap of $101.62 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41. McKesson Corporation has a twelve month low of $568.23 and a twelve month high of $895.58.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $7.07 EPS. As a group, research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s payout ratio is currently 10.21%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCK. UBS Group raised their target price on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Morgan Stanley raised their price objective on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Citigroup increased their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, TD Cowen boosted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $892.86.

Insider Buying and Selling at McKesson

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

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.