Signaturefd LLC Has $3.91 Million Stock Holdings in McKesson Corporation $MCK

Key Points

• Signaturefd LLC increased its holdings in McKesson Corporation by 24% during Q2, owning 5,330 shares worth approximately $3.91 million.
• Analysts have a favorable outlook on McKesson, with multiple firms raising their price targets, now averaging around $829.08 and most rating it as a "Buy."
• McKesson declared a quarterly dividend of $0.82 per share, up from the previous $0.71, representing an annualized yield of 0.4%.

Signaturefd LLC grew its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 24.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,330 shares of the company's stock after acquiring an additional 1,031 shares during the period. Signaturefd LLC's holdings in McKesson were worth $3,906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. CBIZ Investment Advisory Services LLC raised 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 buying an additional 41 shares in the last quarter. 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. Saudi Central Bank acquired a new stake in McKesson in the 1st quarter worth approximately $34,000. Flaharty Asset Management LLC bought a new stake in McKesson during the first quarter worth approximately $39,000. Finally, Pandora Wealth Inc. acquired a new position in McKesson during the first quarter valued at approximately $40,000. 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. Cowen restated a "buy" rating on shares of McKesson in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America raised their price target on McKesson from $800.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday. Citigroup boosted their price objective on McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on McKesson from $772.00 to $816.00 and gave the company an "equal weight" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $829.08.

McKesson Stock Performance

NYSE MCK opened at $760.82 on Friday. McKesson Corporation has a twelve month low of $479.15 and a twelve month high of $770.00. The stock has a market cap of $94.63 billion, a PE ratio of 30.34, a PEG ratio of 1.32 and a beta of 0.51. The firm has a 50-day simple moving average of $697.79 and a 200 day simple moving average of $699.19.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same period last year, the company earned $7.88 EPS. The company's revenue was up 23.4% on a year-over-year basis. Research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. 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 is Tuesday, September 2nd. McKesson's dividend payout ratio is presently 13.08%.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The sale 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 McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. The trade was 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 in the last three months. Insiders own 0.08% of the company's stock.

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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