2,551 Shares in McKesson Corporation $MCK Acquired by Connable Office Inc.

Connable Office Inc. bought a new position in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,551 shares of the company’s stock, valued at approximately $1,869,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in shares of McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after buying an additional 10,179 shares in the last quarter. Boston Partners increased its holdings in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after buying an additional 365,484 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of McKesson by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock valued at $868,237,000 after buying an additional 107,638 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of McKesson by 16.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock valued at $864,712,000 after buying an additional 181,831 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of McKesson by 0.7% in the first quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock valued at $714,543,000 after buying an additional 7,108 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.1%

Shares of NYSE:MCK opened at $820.42 on Tuesday. The stock has a market capitalization of $102.05 billion, a PE ratio of 32.71, a P/E/G ratio of 1.46 and a beta of 0.52. McKesson Corporation has a 1 year low of $520.20 and a 1 year high of $846.32. The firm has a fifty day moving average price of $744.21 and a 200 day moving average price of $720.04.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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). The business had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.88 earnings per share. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio is 13.08%.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,189 shares of company stock valued at $16,722,190 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MCK. Wells Fargo & Company upped their price target on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Evercore ISI boosted their price target on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, Leerink Partners boosted their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $839.15.

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.