Thompson Investment Management Inc. Has $3.80 Million Holdings in McKesson Corporation $MCK

Key Points

• Thompson Investment Management Inc. reduced its holdings in McKesson Corporation by 21.8% during Q2, resulting in a total worth of approximately $3.80 million.
• The company announced a quarterly dividend of $0.82 per share, up from $0.71, reflecting a 0.4% dividend yield and a payout ratio of 13.08%.
• Recent earnings showed McKesson's revenue was up 23.4% compared to the previous year, although it missed earnings estimates with an EPS of $8.26.

Thompson Investment Management Inc. lessened its position in McKesson Corporation (NYSE:MCK - Free Report) by 21.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,190 shares of the company's stock after selling 1,450 shares during the quarter. Thompson Investment Management Inc.'s holdings in McKesson were worth $3,803,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Bank of Jackson Hole Trust raised its stake in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after buying an additional 18 shares during the period. CBIZ Investment Advisory Services LLC raised its stake in McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after acquiring an additional 41 shares during the period. GFG Capital LLC acquired a new stake in McKesson during the 2nd quarter valued at $30,000. Saudi Central Bank bought a new position in McKesson during the first quarter worth $34,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of McKesson in the first quarter valued at $39,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of MCK stock opened at $758.07 on Friday. McKesson Corporation has a fifty-two week low of $492.39 and a fifty-two week high of $776.14. The stock has a 50 day simple moving average of $706.17 and a two-hundred day simple moving average of $705.39. The company has a market cap of $94.29 billion, a P/E ratio of 30.23, a PEG ratio of 1.36 and a beta of 0.52.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio (DPR) is 13.08%.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the 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 completion of the transaction, the chief accounting officer directly owned 657 shares of the company's stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade 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 24,189 shares of company stock worth $16,722,190 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of McKesson in a research note on Wednesday. TD Cowen increased their price objective on McKesson from $830.00 to $864.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Bank of America lifted their target price on McKesson from $800.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Evercore ISI increased their target price on shares of McKesson from $800.00 to $825.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley boosted their price target on McKesson from $810.00 to $857.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $829.08.

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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