PKO Investment Management Joint Stock Co Sells 900 Shares of McKesson Corporation $MCK

Key Points

• PKO Investment Management Joint Stock Co sold 900 shares of McKesson Corporation, reducing its holdings by 60% to 600 shares, valued at $440,000.
• Several analysts upgraded McKesson's stock rating to "buy" with increased price targets, with the average target now at $834.54.
• McKesson recently announced a quarterly dividend increase to $0.82, up from $0.71, reflecting a commitment to returning value to shareholders.

PKO Investment Management Joint Stock Co trimmed its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 60.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 600 shares of the company's stock after selling 900 shares during the quarter. PKO Investment Management Joint Stock Co's holdings in McKesson were worth $440,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Bank of Jackson Hole Trust increased its holdings 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 during the period. CBIZ Investment Advisory Services LLC boosted its position 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 in the last quarter. GFG Capital LLC purchased a new position in McKesson in the second quarter valued at about $30,000. Saudi Central Bank purchased a new position in McKesson in the first quarter valued at about $34,000. Finally, Flaharty Asset Management LLC bought a new position in McKesson in the first quarter worth about $39,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. TD Cowen lifted their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Citigroup upped their price target on McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Mizuho raised their price objective on McKesson from $750.00 to $770.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Finally, Jefferies Financial Group upped their target price on McKesson from $820.00 to $900.00 and gave the company a "buy" rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $834.54.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on 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 owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 4,012 shares of the company's stock, 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. In the last quarter, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of MCK opened at $802.17 on Friday. The company's fifty day moving average price is $728.97 and its 200-day moving average price is $714.24. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $807.75. The firm has a market capitalization of $99.77 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The firm 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 business's revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the business earned $7.88 EPS. As a group, research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal 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 is an increase from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. McKesson's payout ratio is currently 13.08%.

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.

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