Sumitomo Mitsui Trust Group Inc. Grows Stock Position in McKesson Corporation $MCK

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 315,284 shares of the company’s stock after buying an additional 1,364 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in McKesson were worth $231,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB raised its holdings in shares of McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares during the period. Cardinal Point Capital Management ULC raised its holdings in shares of McKesson by 2.2% in the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after purchasing an additional 14 shares during the period. SteelPeak Wealth LLC grew its stake in shares of McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after buying an additional 15 shares in the last quarter. Cypress Wealth Services LLC grew its stake in shares of McKesson by 3.7% in the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after buying an additional 15 shares in the last quarter. Finally, Valmark Advisers Inc. grew its stake in shares of McKesson by 2.1% in the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after buying an additional 17 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 1.2%

NYSE:MCK opened at $802.17 on Friday. The company has a market cap of $99.77 billion, a PE ratio of 31.98, a P/E/G ratio of 1.43 and a beta of 0.52. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $807.75. The business’s 50 day moving average is $728.97 and its two-hundred day moving average is $713.82.

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

McKesson Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MCK shares. Evercore ISI increased their target price on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Wells Fargo & Company increased their target price on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. UBS Group raised their price objective on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $834.54.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction 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. The trade was a 74.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, August 8th. The shares were 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 in the company, 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. Insiders have sold a total of 24,189 shares of company stock worth $16,722,190 in the last ninety days. 0.08% of the stock is owned by company insiders.

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.