McKesson Corporation $MCK Shares Purchased by Crux Wealth Advisors

Key Points

• Crux Wealth Advisors increased its stake in McKesson Corporation by 43.3% during the second quarter, bringing their total holdings to 1,307 shares valued at approximately $958,000.
• McKesson reported quarterly earnings of $8.26 per share, missing estimates, though its revenue increased to $97.83 billion for the quarter, reflecting a 23.4% year-over-year growth.
• The company recently boosted its quarterly dividend to $0.82 per share, up from a previous $0.71, representing an annualized yield of 0.4%.

Crux Wealth Advisors raised its stake in McKesson Corporation (NYSE:MCK - Free Report) by 43.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,307 shares of the company's stock after purchasing an additional 395 shares during the quarter. Crux Wealth Advisors' holdings in McKesson were worth $958,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Jackson Hole Trust increased its stake in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after acquiring an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its position in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after buying an additional 41 shares in the last quarter. GFG Capital LLC purchased a new stake in McKesson during the second quarter worth approximately $30,000. Saudi Central Bank acquired a new stake in shares of McKesson in the first quarter worth $34,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of McKesson in the 1st quarter valued at $39,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 1.7%

Shares of NYSE MCK opened at $788.27 on Friday. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $793.97. The company has a market cap of $98.05 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. The stock's 50 day simple moving average is $716.48 and its 200 day simple moving average is $710.07.

McKesson (NYSE:MCK - Get Free Report) last announced 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 firm had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period last year, the firm posted $7.88 EPS. The business's revenue was up 23.4% compared to the same quarter last year. As a group, equities analysts forecast 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 was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was 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 0.4%. McKesson's dividend payout ratio is presently 13.08%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised McKesson from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. Wells Fargo & Company lifted their price objective on McKesson from $772.00 to $816.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 24th. Weiss Ratings restated a "buy (b)" rating on shares of McKesson in a research note on Wednesday, October 8th. Jefferies Financial Group raised their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a "buy" rating in a report on Monday, October 13th. Finally, Bank of America increased their price target on shares of McKesson from $800.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $834.54.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated 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 transaction, the chief executive officer directly owned 4,012 shares of the company's stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by insiders.

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.

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