Northside Capital Management LLC Purchases New Stake in McKesson Corporation $MCK

Key Points

• Northside Capital Management LLC has acquired a new stake in McKesson Corporation, purchasing 400 shares valued at approximately $293,000.
• Insiders at McKesson have sold a total of 43,560 shares worth over $30 million in the past three months, with notable sales from CEO Brian S. Tyler and CAO Napoleon B. Rutledge, Jr..
• McKesson announced an increase in its quarterly dividend from $0.71 to $0.82, reflecting a strong commitment to returning value to shareholders.

Northside Capital Management LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 400 shares of the company's stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC raised its holdings in McKesson by 3.1% during the 2nd quarter. Ballentine Partners LLC now owns 12,131 shares of the company's stock valued at $8,889,000 after buying an additional 362 shares during the last quarter. CHB Investment Group LLC raised its holdings in McKesson by 2.8% during the 2nd quarter. CHB Investment Group LLC now owns 4,771 shares of the company's stock valued at $3,496,000 after buying an additional 128 shares during the last quarter. BCS Wealth Management bought a new stake in McKesson during the 2nd quarter valued at $320,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in McKesson by 22.3% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 2,993 shares of the company's stock valued at $2,193,000 after buying an additional 545 shares during the last quarter. Finally, Revisor Wealth Management LLC bought a new stake in McKesson during the 2nd quarter valued at $297,000. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer directly 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 filing with the Securities & Exchange Commission, which is available 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 stock was 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 $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. Insiders sold a total of 43,560 shares of company stock worth $30,438,602 over the last ninety days. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MCK shares. Wells Fargo & Company upped their price target on shares of McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Wall Street Zen downgraded shares of McKesson from a "buy" rating to a "hold" rating in a research report on Saturday. Evercore ISI boosted their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Cowen reissued a "buy" rating on shares of McKesson in a research report on Thursday, August 7th. Finally, Morgan Stanley reissued an "overweight" rating and set a $810.00 price objective (up from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. One equities 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $725.10.

McKesson Price Performance

NYSE:MCK opened at $739.48 on Wednesday. The firm's 50-day moving average price is $695.33 and its 200-day moving average price is $697.47. The company has a market capitalization of $91.98 billion, a PE ratio of 29.48, a P/E/G ratio of 1.39 and a beta of 0.51. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $748.75.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion during the quarter, compared to analysts' expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm's quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company earned $7.88 earnings per share. Equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.71. McKesson's payout ratio is currently 13.08%.

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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