Phoenix Financial Ltd. Has $12.27 Million Stock Position in McKesson Corporation $MCK

Phoenix Financial Ltd. raised its position in McKesson Corporation (NYSE:MCKFree Report) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,738 shares of the company’s stock after acquiring an additional 693 shares during the period. Phoenix Financial Ltd.’s holdings in McKesson were worth $12,273,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its holdings in McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after acquiring an additional 14 shares in the last quarter. Palisade Asset Management LLC raised its holdings in McKesson by 2.1% in the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock valued at $481,000 after acquiring an additional 15 shares in the last quarter. SteelPeak Wealth LLC raised its holdings 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 acquiring an additional 15 shares in the last quarter. Cypress Wealth Services LLC raised its holdings 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 acquiring an additional 15 shares in the last quarter. Finally, Keystone Financial Services raised its holdings in McKesson by 1.2% in the 1st quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock valued at $945,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bank of America upped their price target on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company increased their target price on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Leerink Partners increased their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $834.54.

View Our Latest Research Report on McKesson

McKesson Price Performance

MCK stock opened at $788.38 on Tuesday. The business has a fifty day moving average price of $718.77 and a 200 day moving average price of $710.76. McKesson Corporation has a fifty-two week low of $492.39 and a fifty-two week high of $793.97. The stock has a market capitalization of $98.06 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 1.42 and a beta of 0.52.

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

McKesson Increases Dividend

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

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 11,930 shares of the firm’s 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 completion of the sale, the chief executive officer directly 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 document filed with the SEC, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s 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 sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This 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 valued at $16,722,190 over the last ninety days. Insiders own 0.08% of the company’s stock.

McKesson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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