McKesson Corporation $MCK Shares Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in McKesson Corporation by 3.9% during the 2nd quarter, owning a total of 19,533 shares valued at $14.31 million.
• Insider selling activity is notable, with CEO Brian S. Tyler selling 11,930 shares for over $8.4 million, reflecting a 74.83% decrease in his personal holdings.
• Several analysts have upgraded McKesson's price targets, with Citigroup and UBS both raising their targets to $860, while the stock has a consensus rating of Moderate Buy with an average target price of $829.08.

QRG Capital Management Inc. increased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,533 shares of the company's stock after purchasing an additional 733 shares during the period. QRG Capital Management Inc.'s holdings in McKesson were worth $14,314,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bank of Jackson Hole Trust raised its holdings in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after acquiring an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. Saudi Central Bank acquired a new position in McKesson in the 1st quarter valued at $34,000. Flaharty Asset Management LLC acquired a new position in McKesson in the 1st quarter valued at $39,000. Finally, Pandora Wealth Inc. acquired a new position in McKesson in the 1st quarter valued at $40,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In related news, 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 value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief accounting officer owned 657 shares of the company's stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MCK shares. Weiss Ratings reiterated a "buy (b)" rating on shares of McKesson in a report on Saturday, September 27th. Citigroup boosted their price target on McKesson from $820.00 to $860.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. UBS Group boosted their price target on McKesson from $820.00 to $860.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Bank of America upped their price objective on McKesson from $800.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $829.08.

McKesson Stock Down 2.7%

MCK stock opened at $738.00 on Friday. The company has a market cap of $91.79 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.32 and a beta of 0.52. The business has a fifty day simple moving average of $702.60 and a 200-day simple moving average of $703.23. McKesson Corporation has a 52 week low of $480.39 and a 52 week high of $776.14.

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 company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the prior year, the company posted $7.88 earnings per share. The firm's revenue for the quarter was up 23.4% on a year-over-year basis. As a group, analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.82 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. This is an increase from McKesson's previous quarterly dividend of $0.71. 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.

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