McKesson Corporation $MCK Stock Holdings Lifted by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its stake in McKesson Corporation by 3.3%, owning approximately 71,558 shares valued at $48.16 million.
• Despite reporting earnings per share of $8.26, McKesson missed analyst expectations of $8.33, though its quarterly revenue grew by 23.4% year-over-year to $97.83 billion.
• McKesson announced a dividend increase to $0.82 per share, effective October 1st, representing a 0.5% yield and a dividend payout ratio of 13.08%.

Focus Partners Wealth raised its position in McKesson Corporation (NYSE:MCK - Free Report) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,558 shares of the company's stock after purchasing an additional 2,283 shares during the quarter. Focus Partners Wealth owned approximately 0.06% of McKesson worth $48,159,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. Brighton Jones LLC grew its stake in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in McKesson by 21.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,959 shares of the company's stock valued at $13,654,000 after purchasing an additional 4,299 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in McKesson in the fourth quarter valued at about $406,000. NorthRock Partners LLC grew its stake in McKesson by 114.0% in the fourth quarter. NorthRock Partners LLC now owns 1,348 shares of the company's stock valued at $768,000 after purchasing an additional 718 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in McKesson in the fourth quarter valued at about $2,382,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. Cowen reiterated a "buy" rating on shares of McKesson in a research note on Thursday, August 7th. Wells Fargo & Company upped their price target on McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Morgan Stanley reiterated an "overweight" rating and set a $810.00 price target (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Evercore ISI upped their price target on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $725.10.

McKesson Stock Performance

NYSE MCK opened at $705.88 on Thursday. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The stock has a market capitalization of $87.80 billion, a PE ratio of 28.15, a P/E/G ratio of 1.40 and a beta of 0.51. The stock has a 50-day simple moving average of $697.99 and a 200 day simple moving average of $692.62.

McKesson (NYSE:MCK - Get Free Report) last posted 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 negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period in the prior year, the firm posted $7.88 EPS. McKesson's revenue for the quarter was up 23.4% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. This is a boost from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. McKesson's dividend payout ratio (DPR) is presently 13.08%.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's 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 sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is currently owned by company insiders.

About McKesson

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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