Divergent Planning LLC Takes Position in McKesson Corporation $MCK

Key Points

• Divergent Planning LLC has acquired 403 shares of McKesson Corporation, valued at approximately $295,000, in the second quarter.
• McKesson recently increased its quarterly dividend from $0.71 to $0.82, representing an annualized dividend of $3.28 with a yield of 0.4%.
• Institutional investors and hedge funds collectively own 85.07% of McKesson's shares, highlighting strong institutional interest in the company.

Divergent Planning LLC purchased a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 403 shares of the company's stock, valued at approximately $295,000.

Several other hedge funds have also made changes to their positions in MCK. Phoenix Financial Ltd. lifted its holdings in shares of McKesson by 4.3% during the 2nd quarter. Phoenix Financial Ltd. now owns 16,738 shares of the company's stock worth $12,273,000 after acquiring an additional 693 shares during the period. DekaBank Deutsche Girozentrale increased its position in McKesson by 1.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 227,498 shares of the company's stock worth $165,203,000 after purchasing an additional 3,781 shares during the last quarter. Bogart Wealth LLC increased its position in McKesson by 122.6% during the second quarter. Bogart Wealth LLC now owns 118 shares of the company's stock worth $86,000 after purchasing an additional 65 shares during the last quarter. Drive Wealth Management LLC raised its stake in McKesson by 4.4% during the second quarter. Drive Wealth Management LLC now owns 740 shares of the company's stock worth $543,000 after purchasing an additional 31 shares during the period. Finally, Townsend & Associates Inc acquired a new position in shares of McKesson in the 2nd quarter valued at $14,185,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares of the company's stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock valued at $16,722,190 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

McKesson Price Performance

MCK opened at $788.38 on Tuesday. The business has a 50 day moving average price of $718.77 and a two-hundred day moving average price of $710.76. The company has a market capitalization of $98.06 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $793.97.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the prior year, the company posted $7.88 EPS. McKesson's quarterly revenue was up 23.4% on a year-over-year basis. Equities analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed 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 dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a boost from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio (DPR) is presently 13.08%.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Jefferies Financial Group upped their price target on shares of McKesson from $820.00 to $900.00 and gave the stock a "buy" rating in a research report on Monday, October 13th. Citigroup upped 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. Leerink Partners raised their target price on McKesson from $785.00 to $850.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. UBS Group boosted their price target on McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley increased their price objective on shares of McKesson from $810.00 to $857.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $834.54.

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.

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