McKesson Corporation $MCK Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its holdings in McKesson Corporation (NYSE:MCK) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,286 shares of the company’s stock after acquiring an additional 1,816 shares during the quarter. Wealthfront Advisers LLC’s holdings in McKesson were worth $19,995,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MCK. MassMutual Private Wealth & Trust FSB grew its stake in shares of McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares in the last quarter. Cardinal Point Capital Management ULC lifted its holdings in McKesson by 2.2% in the second 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 position in McKesson by 0.5% in the 1st 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 position in McKesson by 3.7% in the 2nd 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. increased its stake in McKesson by 2.1% during the 2nd quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after buying an additional 17 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MCK shares. TD Cowen upped their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. boosted their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Leerink Partners upped their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley boosted their price objective on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $834.54.

McKesson Stock Up 1.2%

MCK opened at $802.17 on Friday. The firm has a market cap of $99.77 billion, a PE ratio of 31.98, a P/E/G ratio of 1.44 and a beta of 0.52. The business has a fifty day simple moving average of $728.97 and a 200-day simple moving average of $714.24. McKesson Corporation has a fifty-two week low of $492.39 and a fifty-two week high of $807.75.

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

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.82 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 13.08%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly 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. Over the last three months, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is currently owned by insiders.

About McKesson

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.