McKesson Corporation $MCK Shares Newly Bought by Creekside Partners

Key Points

• Creekside Partners initiated a position in McKesson, buying 1,500 shares valued at about $1.28 million; institutional investors and hedge funds collectively own 85.07% of the stock.
• McKesson beat quarterly expectations, reporting adjusted earnings of $11.68 per share versus $10.72 expected and revenue of $110.96 billion, up 7.5% year over year.
• Analysts give McKesson a consensus “Moderate Buy” rating, with an average price target of $1,026.18; the company also announced a quarterly dividend of $0.94 per share.

Creekside Partners acquired a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,500 shares of the company's stock, valued at approximately $1,281,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in McKesson in the 2nd quarter worth approximately $8,156,743,000. Bank of America Corp DE raised its stake in McKesson by 2.4% during the 1st quarter. Bank of America Corp DE now owns 1,538,726 shares of the company's stock valued at $1,331,552,000 after acquiring an additional 35,916 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in McKesson by 3.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company's stock valued at $697,096,000 after acquiring an additional 29,747 shares in the last quarter. Legal & General Group Plc acquired a new position in McKesson during the 2nd quarter worth $656,566,000. Finally, The Manufacturers Life Insurance Company acquired a new position in McKesson during the 2nd quarter worth $651,462,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 0.1%

Shares of NYSE MCK opened at $1,059.43 on Tuesday. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,121.50. The firm has a 50-day moving average of $941.40 and a two-hundred day moving average of $869.30. The company has a market capitalization of $123.52 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 2.13 and a beta of 0.27.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.72 by $0.96. The company had revenue of $110.96 billion for the quarter, compared to analysts' expectations of $109.90 billion. McKesson had a net margin of 1.12% and a negative return on equity of 235.48%. The business's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.86 EPS. As a group, research analysts predict that McKesson Corporation will post 46.21 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, December 1st. McKesson's dividend payout ratio (DPR) is presently 9.67%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MCK. Wells Fargo & Company increased their price target on McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. Bank of America lifted their price objective on shares of McKesson from $950.00 to $1,050.00 in a research note on Thursday, August 6th. Royal Bank Of Canada lifted their price objective on shares of McKesson from $845.00 to $965.00 and gave the company a "sector perform" rating in a research note on Thursday, November 5th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of McKesson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 4th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,026.18.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 650 shares of the company's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total value of $716,924.00. Following the completion of the transaction, the executive vice president directly owned 4,414 shares in the company, valued at $4,868,465.44. This represents a 12.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,161 shares of company stock valued at $2,242,515 over the last 90 days. 0.06% of the stock is currently owned by insiders.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers.

The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care.

Founded in 1833, McKesson serves customers primarily in the United States and Canada.

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