Caprock Group LLC Acquires 6,233 Shares of McKesson Co. (NYSE:MCK)

Caprock Group LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 461.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,584 shares of the company’s stock after purchasing an additional 6,233 shares during the quarter. Caprock Group LLC’s holdings in McKesson were worth $4,434,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Councilmark Asset Management LLC acquired a new position in shares of McKesson during the first quarter valued at about $5,160,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of McKesson during the 4th quarter worth about $2,487,000. Treasurer of the State of North Carolina boosted its position in shares of McKesson by 6.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 65,266 shares of the company’s stock valued at $30,217,000 after acquiring an additional 3,982 shares in the last quarter. BDF Gestion acquired a new stake in shares of McKesson during the 2nd quarter valued at about $3,504,000. Finally, Bornite Capital Management LP acquired a new position in McKesson in the fourth quarter worth about $34,724,000. 85.07% of the stock is owned by institutional investors.

McKesson Trading Down 2.1 %

Shares of MCK stock opened at $504.17 on Friday. McKesson Co. has a 1 year low of $412.64 and a 1 year high of $637.51. The firm’s 50 day moving average is $574.75 and its 200-day moving average is $557.64. The firm has a market capitalization of $65.51 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.27 EPS. On average, equities research analysts forecast that McKesson Co. will post 32.14 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s payout ratio is currently 12.69%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent research reports. Leerink Partners decreased their price objective on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday. Mizuho upped their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Argus increased their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Barclays upped their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Robert W. Baird lowered their target price on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $624.93.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now directly owns 2,022 shares in the company, valued at approximately $1,183,941.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,859 shares of company stock worth $6,986,810. Company insiders own 0.11% of the company’s stock.

About McKesson

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.