Fiduciary Family Office LLC Acquires Shares of 2,424 McKesson Corporation (NYSE:MCK)

Key Points

• Fiduciary Family Office LLC acquired a new position in McKesson Corporation, totaling approximately $1.63 million with a purchase of 2,424 shares in the 1st quarter.
• Insider activity has been notable, with CEO Brian S. Tyler selling 19,371 shares valued at over $13.7 million, reducing his ownership by 41%.
• McKesson's recent earnings report showed a 23.4% revenue increase year-over-year, but it missed earnings per share estimates by $0.07.

Fiduciary Family Office LLC acquired a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,424 shares of the company's stock, valued at approximately $1,631,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. NWK Group Inc. purchased a new stake in McKesson in the 1st quarter valued at $222,000. Frank Rimerman Advisors LLC grew its stake in shares of McKesson by 19.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 967 shares of the company's stock worth $651,000 after acquiring an additional 160 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of McKesson in the first quarter valued at about $2,019,000. Cynosure Group LLC lifted its position in shares of McKesson by 4.3% during the first quarter. Cynosure Group LLC now owns 537 shares of the company's stock valued at $361,000 after purchasing an additional 22 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC boosted its holdings in McKesson by 5.6% during the first quarter. Measured Wealth Private Client Group LLC now owns 701 shares of the company's stock worth $472,000 after purchasing an additional 37 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In related news, CFO Britt J. Vitalone sold 6,336 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the transaction, the chief financial officer owned 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer directly owned 27,872 shares in the company, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,817 shares of company stock worth $37,461,210 over the last 90 days. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Evercore ISI raised their target price on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Cowen restated a "buy" rating on shares of McKesson in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average price target of $718.73.

McKesson Trading Down 2.1%

Shares of NYSE:MCK traded down $13.99 on Tuesday, reaching $658.78. 1,644,064 shares of the company traded hands, compared to its average volume of 899,068. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The business's 50-day simple moving average is $713.17 and its 200 day simple moving average is $680.90. The stock has a market capitalization of $81.94 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50.

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 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 quarter in the previous year, the firm posted $7.88 EPS. The business's revenue for the quarter was up 23.4% compared to the same quarter last year. Sell-side analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. This is a boost from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio (DPR) is presently 11.32%.

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.