Dynamic Technology Lab Private Ltd Invests $289,000 in McKesson Corporation $MCK

Key Points

• Dynamic Technology Lab Private Ltd recently acquired a new $289,000 position in McKesson Corporation, purchasing 430 shares during the first quarter.
• McKesson has seen a significant increase in institutional interest, with hedge funds and other institutional investors now holding 85.07% of the company's stock.
• The company announced a quarterly dividend increase to $0.82, up from $0.71, with the ex-dividend date set for September 2nd.

Dynamic Technology Lab Private Ltd purchased a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 430 shares of the company's stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Aberdeen Wealth Management LLC purchased a new position in McKesson in the first quarter valued at about $236,000. Stance Capital LLC boosted its stake in McKesson by 2,164.1% in the first quarter. Stance Capital LLC now owns 7,313 shares of the company's stock valued at $4,922,000 after acquiring an additional 6,990 shares during the last quarter. PharVision Advisers LLC purchased a new position in McKesson in the first quarter valued at about $216,000. Plancorp LLC boosted its stake in McKesson by 1.8% in the first quarter. Plancorp LLC now owns 998 shares of the company's stock valued at $672,000 after acquiring an additional 18 shares during the last quarter. Finally, Napean Trading & Investment Co Singapore PTE Ltd boosted its stake in McKesson by 142.1% in the first quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 18,444 shares of the company's stock valued at $12,413,000 after acquiring an additional 10,825 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company boosted their target price on shares of McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 13th. Cowen reissued a "buy" rating on shares of McKesson in a research report on Thursday, August 7th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $810.00 price target (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average price target of $725.10.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value 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 represents a 33.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 4,012 shares in the company, 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 have sold a total of 43,560 shares of company stock worth $30,438,602 in the last ninety days. 0.08% of the stock is currently owned by insiders.

McKesson Stock Performance

McKesson stock traded up $0.26 during midday trading on Wednesday, reaching $693.71. 245,067 shares of the stock were exchanged, compared to its average volume of 870,228. The company's fifty day moving average is $696.53 and its 200-day moving average is $695.39. The firm has a market cap of $86.28 billion, a PE ratio of 27.66, a PEG ratio of 1.40 and a beta of 0.51. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last posted its 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). The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business's revenue was up 23.4% on a year-over-year basis. During the same period last year, the company posted $7.88 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced 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 is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. 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.