Catalyst Capital Advisors LLC Invests $523,000 in McKesson Corporation $MCK

Key Points

• Catalyst Capital Advisors LLC has invested approximately $523,000 in McKesson Corporation by acquiring 714 shares in the second quarter.
• CEO Brian S. Tyler and the CAO Napoleon B. Rutledge, Jr. recently sold a significant number of shares, indicating notable insider trading activity.
• McKesson's quarterly dividend has increased from $0.71 to $0.82, with a current yield of 0.4%.

Catalyst Capital Advisors LLC bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 714 shares of the company's stock, valued at approximately $523,000.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC grew its position in shares of McKesson by 22.0% during the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company's stock worth $254,979,000 after buying an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of McKesson during the 1st quarter worth about $289,000. Archford Capital Strategies LLC grew its position in shares of McKesson by 151.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company's stock worth $1,668,000 after buying an additional 1,372 shares during the period. LPL Financial LLC grew its position in shares of McKesson by 12.8% during the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company's stock worth $104,950,000 after buying an additional 17,750 shares during the period. Finally, Focus Partners Wealth grew its position in shares of McKesson by 3.3% during the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company's stock worth $48,159,000 after buying an additional 2,283 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was 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 in the company, 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 quarter, insiders have sold 24,189 shares of company stock worth $16,722,190. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCK shares. Citigroup boosted their target price on McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on McKesson from $775.00 to $856.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Jefferies Financial Group boosted their price objective on McKesson from $820.00 to $900.00 and gave the company a "buy" rating in a research report on Monday, October 13th. TD Cowen boosted their price objective on McKesson from $830.00 to $864.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Finally, Bank of America boosted their price objective on McKesson from $800.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $834.54.

McKesson Stock Up 1.2%

NYSE:MCK opened at $802.17 on Friday. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $807.75. The business has a 50 day moving average price of $728.97 and a two-hundred day moving average price of $713.82. The company has a market cap of $99.77 billion, a P/E ratio of 31.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52.

McKesson (NYSE:MCK - Get 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 negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period last year, the company earned $7.88 EPS. The company's revenue was up 23.4% compared to the same quarter last year. As a group, analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This is an increase from McKesson's previous quarterly dividend of $0.71. 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%. McKesson's payout ratio is currently 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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