Bfsg LLC Buys New Stake in McKesson Corporation $MCK

Key Points

• Bfsg LLC acquired a new stake in McKesson Corporation, purchasing 1,471 shares valued at approximately $1,078,000 in Q2.
• CEO Brian S. Tyler sold 11,930 shares of McKesson at an average price of $705.63, representing a 74.83% decrease in his position.
• McKesson recently declared a quarterly dividend of $0.82 per share, a notable increase from the previous $0.71, with a payment date set for October 1st.

Bfsg LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,471 shares of the company's stock, valued at approximately $1,078,000.

Several other institutional investors also recently bought and sold shares of MCK. Capital A Wealth Management LLC purchased a new position in McKesson during the fourth quarter valued at $26,000. Bank of Jackson Hole Trust grew its stake in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after buying an additional 41 shares in the last quarter. Saudi Central Bank purchased a new position in shares of McKesson in the 1st quarter worth $34,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of McKesson in the 1st quarter worth $39,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares of the company's stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,560 shares of company stock valued at $30,438,602. Company insiders own 0.08% of the company's stock.

McKesson Price Performance

Shares of MCK opened at $739.48 on Wednesday. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $748.75. The company has a 50-day moving average of $695.33 and a 200 day moving average of $697.47. The firm has a market capitalization of $91.98 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 1.39 and a beta of 0.51.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the previous year, the business earned $7.88 EPS. The company's quarterly revenue was up 23.4% compared to the same quarter last year. On average, equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd 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 Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio (DPR) is 13.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley reissued an "overweight" rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Evercore ISI lifted their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Cowen reissued a "buy" rating on shares of McKesson in a research note on Thursday, August 7th. Wall Street Zen cut shares of McKesson from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Wells Fargo & Company lifted their price target on shares of McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $725.10.

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.

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