McKesson Corporation (NYSE:MCK) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 39.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,093 shares of the company's stock after acquiring an additional 15,349 shares during the quarter. Federated Hermes Inc.'s holdings in McKesson were worth $36,404,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Capital A Wealth Management LLC purchased a new stake in McKesson in the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its stake in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after acquiring an additional 41 shares during the period. Cornerstone Planning Group LLC lifted its stake in McKesson by 1,840.0% in the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock worth $67,000 after acquiring an additional 92 shares during the period. Johnson Financial Group Inc. purchased a new stake in McKesson in the fourth quarter worth about $76,000. Finally, Itau Unibanco Holding S.A. lifted its stake in McKesson by 350.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 144 shares of the company's stock worth $82,000 after acquiring an additional 112 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 19,371 shares of the 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 transaction, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the transaction, the executive vice president owned 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock worth $37,242,862 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Up 0.7%

Shares of McKesson stock traded up $4.89 during midday trading on Friday, hitting $698.43. The company had a trading volume of 960,996 shares, compared to its average volume of 561,144. The stock has a market cap of $87.38 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.40 and a beta of 0.50. The company has a fifty day simple moving average of $716.92 and a 200 day simple moving average of $674.88. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. McKesson's revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm posted $6.18 EPS. As a group, analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.82 dividend. This is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.5%. McKesson's dividend payout ratio is currently 10.99%.

Wall Street Analyst Weigh In

Several research firms have commented on MCK. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. UBS Group increased their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Finally, Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $710.17.

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.