Westwood Holdings Group Inc. Buys 47,580 Shares of McKesson Corporation $MCK

Westwood Holdings Group Inc. boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 778.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 53,690 shares of the company’s stock after buying an additional 47,580 shares during the quarter. Westwood Holdings Group Inc.’s holdings in McKesson were worth $39,343,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Solstein Capital LLC lifted its position in McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. GFG Capital LLC bought a new stake in McKesson during the 2nd quarter valued at $30,000. Saudi Central Bank bought a new stake in McKesson during the 1st quarter valued at $34,000. Loomis Sayles & Co. L P purchased a new stake in McKesson during the 2nd quarter valued at $39,000. Finally, Access Investment Management LLC bought a new stake in McKesson in the 2nd quarter worth $40,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Performance

MCK stock opened at $814.16 on Monday. McKesson Corporation has a fifty-two week low of $558.13 and a fifty-two week high of $895.58. The company has a market capitalization of $100.49 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 1.34 and a beta of 0.38. The business’s 50 day moving average price is $820.19 and its two-hundred day moving average price is $748.57.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $7.07 EPS. Sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is 10.21%.

Wall Street Analyst Weigh In

MCK has been the subject of several recent analyst reports. TD Cowen upped their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Zacks Research lowered McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Bank of America boosted their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $892.86.

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.