480 Shares in McKesson Corporation $MCK Purchased by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC has acquired 480 shares of McKesson Corporation valued at approximately $323,000, indicating growing institutional interest in the company.
• McKesson's latest earnings report revealed a net revenue of $97.83 billion for the quarter, significantly exceeding analysts' expectations despite a small earnings miss.
• The company has announced a quarterly dividend increase to $0.82 per share, reflecting a commitment to returning value to shareholders.

MBB Public Markets I LLC bought a new position in McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 480 shares of the company's stock, valued at approximately $323,000.

Other hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its position in shares of McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after acquiring an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after acquiring an additional 111 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after buying an additional 3,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after buying an additional 7,556 shares in the last quarter. Finally, LPL Financial LLC lifted its position in McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company's stock valued at $104,950,000 after buying an additional 17,750 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of NYSE:MCK traded down $8.48 during midday trading on Friday, reaching $711.32. The company had a trading volume of 522,385 shares, compared to its average volume of 704,488. The stock's fifty day moving average price is $697.81 and its 200-day moving average price is $693.98. The stock has a market capitalization of $88.48 billion, a P/E ratio of 28.36, a PEG ratio of 1.43 and a beta of 0.51. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion during 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 firm's quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.88 EPS. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.5%. McKesson's payout ratio is presently 13.08%.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's stock in a transaction 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 completion of the sale, the chief accounting officer owned 657 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 11,930 shares of the business's stock in a transaction on Friday, August 22nd. The shares were 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 of the company's stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their price objective 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. Morgan Stanley reiterated an "overweight" rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Finally, Cowen reiterated a "buy" rating on shares of McKesson in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $725.10.

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.