GW Henssler & Associates Ltd. Takes $526,000 Position in McKesson Corporation $MCK

Key Points

• GW Henssler & Associates Ltd. has purchased 781 shares of McKesson Corporation, valued at approximately $526,000, in the first quarter of the year.
• Analysts have set a consensus price target for McKesson at $725.10, with several major firms issuing buy ratings and raising their price objectives.
• McKesson's recent quarterly report showed a 23.4% year-over-year revenue increase to $97.83 billion, although it missed earnings expectations slightly by reporting $8.26 EPS.

GW Henssler & Associates Ltd. purchased a new position in McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 781 shares of the company's stock, valued at approximately $526,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CVA Family Office LLC boosted its holdings in McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company's stock worth $178,000 after acquiring an additional 15 shares in the last quarter. Palisade Asset Management LLC lifted its stake in shares of McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after buying an additional 15 shares in the last quarter. SteelPeak Wealth LLC lifted 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. Parallel Advisors LLC lifted its stake in shares of McKesson by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after buying an additional 16 shares in the last quarter. Finally, Eagle Rock Investment Company LLC lifted its stake in shares of McKesson by 0.4% in the first quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock valued at $3,229,000 after buying an additional 17 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent research reports. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Evercore ISI raised their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Cowen reaffirmed a "buy" rating on shares of McKesson in a research note on Thursday, August 7th. Bank of America raised their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company raised their price target on shares of McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $725.10.

McKesson Trading Down 0.6%

Shares of MCK traded down $4.42 on Friday, reaching $687.03. 472,767 shares of the company's stock traded hands, compared to its average volume of 808,316. The stock has a market cap of $85.45 billion, a PE ratio of 27.39, a PEG ratio of 1.37 and a beta of 0.51. The stock's 50 day simple moving average is $699.12 and its two-hundred day simple moving average is $690.52. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion for the quarter, compared to analysts' expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business's revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the business posted $7.88 earnings per share. Analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.82 dividend. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson's payout ratio is presently 13.08%.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated 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 owned 657 shares of the company's stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated 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 in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,560 shares of company stock worth $30,438,602. Insiders own 0.08% of the company's stock.

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.