McKesson Corporation $MCK Stock Holdings Lifted by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS raised its stake in McKesson Corporation by 15.7%, owning approximately 66,910 shares worth $49,065,000 as of the end of the last quarter.
• McKesson's quarterly earnings for August 6 revealed an EPS of $8.26, missing estimates of $8.33, but revenue increased by 23.4% year-over-year to $97.83 billion.
• The company declared a quarterly dividend of $0.82, an increase from the previous $0.71, with an annualized yield of 0.4%.

KLP Kapitalforvaltning AS raised its position in McKesson Corporation (NYSE:MCK - Free Report) by 15.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,910 shares of the company's stock after purchasing an additional 9,100 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.05% of McKesson worth $49,065,000 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. Oppenheimer Asset Management Inc. boosted its stake in shares of McKesson by 54.0% during the 1st 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 in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of McKesson by 16.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after acquiring an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of McKesson by 18.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock worth $15,501,000 after acquiring an additional 3,659 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of McKesson by 22.0% during the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company's stock worth $254,979,000 after acquiring an additional 68,294 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock worth $123,332,000 after acquiring an additional 7,556 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

NYSE MCK opened at $740.82 on Tuesday. McKesson Corporation has a twelve month low of $482.44 and a twelve month high of $776.14. The stock has a market capitalization of $92.15 billion, a PE ratio of 29.54, a P/E/G ratio of 1.32 and a beta of 0.52. The stock has a 50-day simple moving average of $703.30 and a 200 day simple moving average of $704.05.

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 declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This is a positive change from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's payout ratio is currently 13.08%.

Analyst Ratings Changes

Several research firms have recently issued reports on MCK. TD Cowen upped their price target on McKesson from $830.00 to $864.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. upped their price target on McKesson from $821.00 to $853.00 and gave the stock an "overweight" rating in a research note on Friday, September 26th. UBS Group upped their price target on McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Cowen reiterated a "buy" rating on shares of McKesson in a research note on Wednesday, September 24th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of McKesson in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $829.08.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company'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 value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares of the company's stock, valued at $436,031.19. This represents a 33.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 19,371 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer directly owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. This trade represents a 41.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,560 shares of company stock valued at $30,438,602. Insiders own 0.08% of the company's stock.

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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