McKesson Corporation $MCK Shares Purchased by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in McKesson Corporation by 10.4%, acquiring an additional 444 shares during the first quarter, bringing its total holdings to 4,694 shares worth approximately $3.16 million.
• Despite a number of analysts lowering their ratings, several investment firms increased their target prices for McKesson, with Bank of America and Evercore ISI setting targets at $800.00.
• McKesson declared a quarterly dividend of $0.82 per share, up from $0.71, with the ex-dividend date on September 2nd, indicating positive shareholder returns.

B. Metzler seel. Sohn & Co. AG boosted its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,694 shares of the company's stock after buying an additional 444 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in McKesson were worth $3,159,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. CVA Family Office LLC increased its stake 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 purchasing an additional 15 shares during the period. Palisade Asset Management LLC grew its position in shares of McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock worth $481,000 after buying an additional 15 shares in the last quarter. SteelPeak Wealth LLC grew its position in shares of McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock worth $1,867,000 after buying an additional 15 shares in the last quarter. Parallel Advisors LLC grew its position in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after buying an additional 16 shares in the last quarter. Finally, Eagle Rock Investment Company LLC grew its position in shares of McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock worth $3,229,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer owned 657 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,930 shares of company stock worth $44,112,466 in the last 90 days. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company increased their price target on McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 13th. Morgan Stanley reissued an "overweight" rating and set a $810.00 price target (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, Cowen reissued a "buy" rating on shares of McKesson in a research report on Thursday, August 7th. One equities 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $725.10.

McKesson Trading Down 0.3%

Shares of MCK stock traded down $2.22 during trading hours on Wednesday, reaching $689.40. 107,354 shares of the company's stock were exchanged, compared to its average volume of 886,221. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The stock has a market cap of $85.75 billion, a PE ratio of 27.49, a PEG ratio of 1.37 and a beta of 0.51. The stock's fifty day moving average price is $701.11 and its two-hundred day moving average price is $689.23.

McKesson (NYSE:MCK - Get Free Report) last issued 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 negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to analysts' expectations of $95.93 billion. During the same quarter in the previous year, the firm posted $7.88 EPS. McKesson's revenue was up 23.4% on a year-over-year basis. On average, equities analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson's payout ratio is presently 11.32%.

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.