Napean Trading & Investment Co Singapore PTE Ltd Boosts Stock Holdings in McKesson Corporation $MCK

Key Points

• Napean Trading & Investment Co Singapore PTE Ltd increased its stake in McKesson Corporation by 142.1%, now holding a total of 18,444 shares valued at approximately $12.4 million.
• Several institutional investors, including GAMMA Investing LLC and Wellington Management Group LLP, significantly boosted their stakes in McKesson, collectively owning over 85% of the company's stock.
• McKesson recently declared a quarterly dividend of $0.82, an increase from the previous $0.71, reflecting a positive change in its dividend payout strategy.

Napean Trading & Investment Co Singapore PTE Ltd grew its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 142.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,444 shares of the company's stock after acquiring an additional 10,825 shares during the period. McKesson comprises approximately 3.6% of Napean Trading & Investment Co Singapore PTE Ltd's holdings, making the stock its 9th largest position. Napean Trading & Investment Co Singapore PTE Ltd's holdings in McKesson were worth $12,413,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of McKesson during the 4th quarter valued at $26,000. Bank of Jackson Hole Trust raised its stake in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC raised its stake in McKesson by 1,366.7% during the 1st 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. Saudi Central Bank bought a new stake in McKesson during the 1st quarter worth approximately $34,000. Finally, Pandora Wealth Inc. bought a new stake in McKesson during the 1st quarter worth approximately $40,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

Shares of McKesson stock traded down $4.42 on Friday, hitting $687.03. 472,767 shares of the company traded hands, compared to its average volume of 767,007. The business has a 50-day simple moving average of $699.12 and a 200 day simple moving average of $691.74. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The stock has a market capitalization of $85.45 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 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 for the quarter, compared to the consensus estimate of $95.93 billion. During the same period last year, the company earned $7.88 EPS. The firm's revenue for the quarter was up 23.4% on a year-over-year basis. Research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. McKesson's payout ratio is currently 13.08%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company's stock, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction 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 transaction, the chief accounting officer directly owned 657 shares of the company's stock, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock valued at $30,438,602 in the last three months. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.