Monument Capital Management Has $4.16 Million Stake in McKesson Corporation $MCK

Key Points

• Monument Capital Management increased its stake in McKesson Corporation by 239.1% during the second quarter, now holding shares worth approximately $4.16 million.
• McKesson recently announced a quarterly dividend of $0.82, up from $0.71, reflecting a dividend yield of 0.4%.
• Wall Street analysts have raised their price targets for McKesson, with Leerink Partners setting a new target at $850.00, indicating strong investor confidence in the company's growth.

Monument Capital Management grew its stake in McKesson Corporation (NYSE:MCK - Free Report) by 239.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,670 shares of the company's stock after buying an additional 3,998 shares during the period. McKesson makes up approximately 1.1% of Monument Capital Management's holdings, making the stock its 25th biggest position. Monument Capital Management's holdings in McKesson were worth $4,155,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MCK. Bank of Jackson Hole Trust raised its stake in shares of 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 in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings 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 purchasing an additional 41 shares during the last quarter. GFG Capital LLC bought a new position in shares of McKesson in the second quarter valued at approximately $30,000. Saudi Central Bank bought a new position in shares of McKesson in the first quarter valued at approximately $34,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of McKesson in the first quarter worth $39,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

Shares of MCK opened at $758.07 on Friday. The company has a 50-day simple moving average of $706.17 and a 200-day simple moving average of $705.39. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $776.14. The firm has a market capitalization of $94.29 billion, a P/E ratio of 30.23, a P/E/G ratio of 1.36 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last issued 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). The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company's revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.88 earnings per share. As a group, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current 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 given a $0.82 dividend. 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. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson's dividend payout ratio (DPR) is 13.08%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCK. Leerink Partners raised their target price on shares of McKesson from $785.00 to $850.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. upped their price target on shares of McKesson from $821.00 to $853.00 and gave the company an "overweight" rating in a report on Friday, September 26th. TD Cowen lifted their price objective on McKesson from $830.00 to $864.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Wells Fargo & Company boosted their price objective on McKesson from $772.00 to $816.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 24th. Finally, Bank of America increased their target price on McKesson from $800.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $829.08.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were 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 of the company's stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction 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. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by company insiders.

McKesson Company 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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