Bey Douglas LLC Boosts Holdings in McKesson Corporation $MCK

Key Points

• Bey Douglas LLC increased its stake in McKesson Corporation by 39.7%, owning 5,165 shares valued at $3,784,000, making it the 19th largest position in their portfolio.
• Insider selling activity was notable, with CAO Napoleon B. Rutledge, Jr. and CEO Brian S. Tyler selling 329 and 11,930 shares respectively, resulting in a significant decrease in their ownership positions.
• Several analysts raised their target price for McKesson, with Morgan Stanley boosting it from $810.00 to $857.00 and UBS Group increasing it to $860.00, reflecting strong confidence in the stock's performance.

Bey Douglas LLC grew its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 39.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,165 shares of the company's stock after purchasing an additional 1,467 shares during the period. McKesson makes up about 2.3% of Bey Douglas LLC's holdings, making the stock its 19th largest position. Bey Douglas LLC's holdings in McKesson were worth $3,784,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Aberdeen Group plc boosted its position in shares of McKesson by 2.4% during the 2nd quarter. Aberdeen Group plc now owns 69,971 shares of the company's stock worth $51,273,000 after purchasing an additional 1,633 shares in the last quarter. PDS Planning Inc boosted its position in shares of McKesson by 8.0% during the 2nd quarter. PDS Planning Inc now owns 1,196 shares of the company's stock worth $876,000 after purchasing an additional 89 shares in the last quarter. Blue Trust Inc. boosted its position in shares of McKesson by 0.8% during the 2nd quarter. Blue Trust Inc. now owns 5,619 shares of the company's stock worth $4,117,000 after purchasing an additional 44 shares in the last quarter. Monument Capital Management boosted its position in shares of McKesson by 239.1% during the 2nd quarter. Monument Capital Management now owns 5,670 shares of the company's stock worth $4,155,000 after purchasing an additional 3,998 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. boosted its position in shares of McKesson by 4.3% during the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 14,549 shares of the company's stock worth $10,661,000 after purchasing an additional 600 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's 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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares of the company's stock, 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 sold a total of 24,189 shares of company stock valued at $16,722,190 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley boosted their target price on shares of McKesson from $810.00 to $857.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. UBS Group boosted their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Cowen restated a "buy" rating on shares of McKesson in a research report on Wednesday, September 24th. Mizuho boosted their target price on shares of McKesson from $750.00 to $770.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company boosted their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $829.08.

McKesson Stock Up 0.8%

McKesson stock opened at $763.89 on Friday. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $776.14. The firm's 50-day simple moving average is $707.48 and its 200 day simple moving average is $706.09. The firm has a market capitalization of $95.01 billion, a PE ratio of 30.46, a P/E/G ratio of 1.37 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $95.93 billion. During the same quarter in the prior year, the firm earned $7.88 earnings per share. McKesson's quarterly revenue was up 23.4% on a year-over-year basis. On average, research analysts expect 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. Investors of record on Tuesday, September 2nd were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio is presently 13.08%.

McKesson 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.

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