Inscription Capital LLC Makes New $456,000 Investment in McKesson Corporation (NYSE:MCK)

Inscription Capital LLC acquired a new stake in McKesson Corporation (NYSE:MCK) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 677 shares of the company’s stock, valued at approximately $456,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC grew its holdings in McKesson by 25.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 81,223 shares of the company’s stock valued at $46,290,000 after buying an additional 16,502 shares during the period. Fred Alger Management LLC boosted its position in shares of McKesson by 95.5% in the fourth quarter. Fred Alger Management LLC now owns 3,091 shares of the company’s stock worth $1,762,000 after acquiring an additional 1,510 shares during the last quarter. Siemens Fonds Invest GmbH grew its holdings in McKesson by 623.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 31,470 shares of the company’s stock valued at $17,935,000 after purchasing an additional 27,119 shares during the period. Maia Wealth LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $241,000. Finally, Mission Wealth Management LP increased its position in McKesson by 49.5% during the fourth quarter. Mission Wealth Management LP now owns 2,486 shares of the company’s stock worth $1,417,000 after purchasing an additional 823 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the transaction, the executive vice president now owns 2,544 shares of the company’s stock, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the sale, the chief executive officer now owns 51,243 shares in the company, valued at $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock worth $23,526,451 in the last three months. 0.11% of the stock is owned by company insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $724.47 on Wednesday. The firm has a market capitalization of $90.64 billion, a PE ratio of 28.05, a P/E/G ratio of 1.43 and a beta of 0.49. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $732.99. The business’s fifty day moving average price is $705.65 and its two-hundred day moving average price is $645.81.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.18 earnings per share. Equities research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Analyst Upgrades and Downgrades

MCK has been the topic of several research reports. Bank of America raised their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a report on Friday, May 9th. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Morgan Stanley upped their price objective on McKesson from $745.00 to $770.00 and gave the company an “overweight” rating in a research note on Wednesday, June 11th. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy 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 $694.38.

McKesson 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.