Versor Investments LP Invests $314,000 in McKesson Corporation $MCK

Key Points

• Versor Investments LP has invested $314,000 in McKesson Corporation, acquiring 466 shares during the first quarter.
• McKesson recently announced a quarterly dividend increase to $0.82 per share, raising its annualized dividend yield to 0.5%.
• Despite reporting quarterly earnings of $8.26 per share, McKesson missed analysts' expectations, leading to scrutiny from several brokerages which have issued varying ratings on the stock.

Versor Investments LP acquired a new position in McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 466 shares of the company's stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in MCK. Capital A Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $26,000. Bank of Jackson Hole Trust grew its holdings in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after purchasing an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Pandora Wealth Inc. bought a new position in shares of McKesson in the first quarter worth approximately $40,000. Finally, Dagco Inc. bought a new position in shares of McKesson in the first quarter worth approximately $47,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Up 0.5%

NYSE:MCK opened at $706.1240 on Friday. The stock has a market cap of $87.83 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.40 and a beta of 0.50. The firm's fifty day simple moving average is $707.48 and its 200 day simple moving average is $684.02. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share 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 during the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter last year, the firm earned $7.88 EPS. The business's revenue was up 23.4% on a year-over-year basis. On average, analysts expect 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 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 is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson's dividend payout ratio (DPR) is presently 11.32%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCK. 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 report on Wednesday, July 9th. UBS Group raised their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley reiterated an "overweight" rating and issued a $810.00 price target (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Cowen reiterated a "buy" rating on shares of McKesson in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $725.10.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $677.76, for a total transaction of $8,085,676.80. Following the sale, the chief executive officer owned 15,942 shares in the company, valued at approximately $10,804,849.92. The trade was a 42.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Britt J. Vitalone sold 1,878 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the sale, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,620 shares of company stock worth $39,712,388. 0.08% of the stock is currently owned by corporate insiders.

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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