Perpetual Ltd Boosts Stock Position in McKesson Co. (NYSE:MCK)

Perpetual Ltd boosted its holdings in McKesson Co. (NYSE:MCK) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,779 shares of the company’s stock after buying an additional 122 shares during the quarter. Perpetual Ltd’s holdings in McKesson were worth $955,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sachetta LLC purchased a new position in McKesson in the fourth quarter valued at $27,000. BKM Wealth Management LLC purchased a new position in shares of McKesson during the fourth quarter worth about $31,000. Richardson Financial Services Inc. purchased a new position in shares of McKesson during the fourth quarter worth about $31,000. Carolinas Wealth Consulting LLC grew its holdings in shares of McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of McKesson during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company raised their price objective on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. TD Cowen raised their price objective on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Evercore ISI raised their price objective on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. SVB Leerink initiated coverage on McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Trading Up 0.1 %

MCK stock opened at $603.24 on Friday. The firm has a 50 day moving average of $556.91 and a 200-day moving average of $518.77. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $605.33. The company has a market cap of $78.42 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.41 and a beta of 0.47.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the previous year, the business posted $7.19 earnings per share. McKesson’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts forecast that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.41%. McKesson’s payout ratio is 11.08%.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 789 shares of McKesson stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total transaction of $439,788.60. Following the completion of the transaction, the executive vice president now directly owns 7,909 shares in the company, valued at approximately $4,408,476.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Thomas L. Rodgers sold 5,232 shares of McKesson stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $560.99, for a total transaction of $2,935,099.68. Following the completion of the transaction, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $1,427,158.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 789 shares of McKesson stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $439,788.60. Following the transaction, the executive vice president now owns 7,909 shares of the company’s stock, valued at $4,408,476.60. The disclosure for this sale can be found here. In the last three months, insiders sold 25,814 shares of company stock worth $14,511,649. Company insiders own 0.21% of the company’s stock.

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.