McKesson Corporation $MCK Stake Raised by Bogart Wealth LLC

Bogart Wealth LLC boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 122.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118 shares of the company’s stock after acquiring an additional 65 shares during the quarter. Bogart Wealth LLC’s holdings in McKesson were worth $86,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MCK. Bank of Jackson Hole Trust raised its holdings in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. GFG Capital LLC acquired a new stake in shares of McKesson during the 2nd quarter valued at about $30,000. Saudi Central Bank bought a new stake in shares of McKesson in the 1st quarter valued at approximately $34,000. Finally, Flaharty Asset Management LLC acquired a new position in McKesson in the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.1%

NYSE MCK opened at $786.96 on Wednesday. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $793.97. The company has a fifty day simple moving average of $721.34 and a 200 day simple moving average of $711.29. The company has a market cap of $97.88 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.42 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter last year, the business earned $7.88 EPS. The business’s revenue was up 23.4% compared to the same quarter last year. Equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is presently 13.08%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price objective on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Bank of America raised their price target on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. TD Cowen upped their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $834.54.

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.