Cookson Peirce & Co. Inc. Buys 360 Shares of McKesson Corporation $MCK

Cookson Peirce & Co. Inc. lifted its stake in McKesson Corporation (NYSE:MCK) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,447 shares of the company’s stock after acquiring an additional 360 shares during the period. Cookson Peirce & Co. Inc.’s holdings in McKesson were worth $17,181,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Bank of Jackson Hole Trust boosted its stake in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after buying an additional 41 shares during the period. GFG Capital LLC bought a new stake in McKesson during the second quarter valued at $30,000. Saudi Central Bank bought a new stake in McKesson during the first quarter valued at $34,000. Finally, Flaharty Asset Management LLC bought a new stake in McKesson during the first quarter valued at $39,000. 85.07% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,189 shares of company stock worth $16,722,190. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Cowen reissued a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Wells Fargo & Company lifted their price objective on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. UBS Group lifted their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, TD Cowen lifted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $834.54.

McKesson Stock Down 0.1%

Shares of MCK stock opened at $786.96 on Wednesday. The business has a 50-day moving average price of $721.34 and a two-hundred day moving average price of $711.29. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $793.97. The firm has a market cap of $97.88 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.88 EPS. As a group, research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

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.