Cwm LLC Has $10.71 Million Position in McKesson Corporation $MCK

Key Points

• Cwm LLC has increased its position in McKesson Corporation by 5.7%, now holding 14,614 shares worth approximately $10.71 million.
• McKesson recently announced a quarterly dividend payment of $0.82 per share, an increase from the previous $0.71, indicating a strong commitment to returning value to shareholders.
• Wall Street analysts are optimistic about McKesson's future, with several brokerages raising their target prices, reflecting an average target of $834.54 and a general consensus rating of "Strong Buy" to "Moderate Buy."

Cwm LLC grew its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,614 shares of the company's stock after acquiring an additional 792 shares during the period. Cwm LLC's holdings in McKesson were worth $10,709,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GFG Capital LLC acquired a new stake in McKesson during the 2nd quarter worth about $30,000. 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 valued at $30,000 after buying an additional 41 shares during the period. 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 valued at $29,000 after buying an additional 18 shares during the period. Saudi Central Bank acquired a new stake in shares of McKesson in the 1st quarter valued at about $34,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of McKesson in the 1st quarter valued at about $39,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 1.6%

McKesson stock opened at $782.07 on Wednesday. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $783.89. The company's 50 day moving average price is $710.10 and its two-hundred day moving average price is $707.89. The stock has a market cap of $97.27 billion, a P/E ratio of 31.18, a P/E/G ratio of 1.39 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results 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 firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the prior year, the business earned $7.88 EPS. McKesson'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 EPS for the current year.

McKesson Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's payout ratio is 13.08%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCK. Citigroup raised their target price on McKesson from $820.00 to $860.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Morgan Stanley raised their target price on McKesson from $810.00 to $857.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Leerink Partners raised their target price on McKesson from $785.00 to $850.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Bank of America raised their target price on McKesson from $800.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on McKesson from $775.00 to $856.00 and gave the company a "buy" rating in a research note 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 given a Hold rating to the company's stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and an average target price of $834.54.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares of the company's stock, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson 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 transaction, 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 three months, insiders have sold 24,189 shares of company stock worth $16,722,190. 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.

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