Portfolio Design Labs LLC Takes $4.57 Million Position in McKesson Corporation $MCK

Portfolio Design Labs LLC bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,238 shares of the company's stock, valued at approximately $4,571,000. McKesson comprises approximately 0.9% of Portfolio Design Labs LLC's holdings, making the stock its 27th biggest holding.

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A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Acadian Asset Management LLC grew its holdings in McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company's stock valued at $254,979,000 after buying an additional 68,294 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of McKesson by 8,018.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,177 shares of the company's stock worth $9,823,000 after buying an additional 12,027 shares in the last quarter. KG&L Capital Management LLC boosted its position in shares of McKesson by 114.8% in the second quarter. KG&L Capital Management LLC now owns 698 shares of the company's stock valued at $511,000 after acquiring an additional 373 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of McKesson in the first quarter valued at about $289,000. Finally, Archford Capital Strategies LLC grew its stake in shares of McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company's stock valued at $1,668,000 after acquiring an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm's stock in a transaction that occurred on 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 owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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A number of analysts have issued reports on MCK shares. Wells Fargo & Company boosted their price objective on shares of McKesson from $816.00 to $914.00 and gave the company an "equal weight" rating in a report on Monday, November 10th. Zacks Research cut McKesson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 25th. Cowen reissued a "buy" rating on shares of McKesson in a research report on Wednesday, September 24th. Leerink Partners lifted their price objective on McKesson from $785.00 to $850.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Finally, Wall Street Zen downgraded McKesson from a "buy" rating to a "hold" rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $887.69.

Read Our Latest Report on MCK

McKesson Stock Down 2.8%

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Shares of MCK stock opened at $856.39 on Tuesday. The business has a fifty day simple moving average of $810.30 and a 200 day simple moving average of $742.71. The company has a market cap of $105.70 billion, a P/E ratio of 34.15, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $895.58.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analysts' expectations of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.07 earnings per share. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

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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