Leuthold Group LLC Buys 1,469 Shares of McKesson Corporation $MCK

Leuthold Group LLC grew its stake in McKesson Corporation (NYSE:MCK) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,823 shares of the company’s stock after buying an additional 1,469 shares during the period. McKesson accounts for about 1.3% of Leuthold Group LLC’s holdings, making the stock its 12th biggest holding. Leuthold Group LLC’s holdings in McKesson were worth $14,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Nvwm LLC lifted its stake in shares of McKesson by 933.3% in the third quarter. Nvwm LLC now owns 31 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the period. Delos Wealth Advisors LLC acquired a new stake in McKesson during the 2nd quarter valued at approximately $27,000. Trellis Wealth Advisors LLC acquired a new stake in McKesson during the 3rd quarter valued at approximately $32,000. Clearstead Trust LLC bought a new position in McKesson during the 2nd quarter worth approximately $37,000. Finally, GK Wealth Management LLC bought a new position in McKesson during the 3rd quarter worth approximately $38,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Francisco Fraga sold 650 shares of McKesson stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total transaction of $716,924.00. Following the transaction, the executive vice president directly owned 4,414 shares of the company’s stock, valued at $4,868,465.44. The trade was a 12.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. This represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,161 shares of company stock valued at $2,242,515 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup upped their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Leerink Partners lifted their target price on shares of McKesson from $1,070.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Argus boosted their target price on shares of McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Barclays upped their price target on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Finally, Morgan Stanley set a $977.00 price target on McKesson in a report on Tuesday, October 6th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,026.18.

McKesson Stock Down 0.1%

McKesson stock opened at $1,059.43 on Tuesday. The company has a market capitalization of $123.52 billion, a PE ratio of 27.24, a PEG ratio of 2.13 and a beta of 0.27. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,121.50. The firm’s fifty day moving average is $941.40 and its 200 day moving average is $869.30.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 4th. The company reported $11.68 EPS for the quarter, beating the consensus estimate of $10.72 by $0.96. McKesson had a negative return on equity of 235.48% and a net margin of 1.12%. The firm had revenue of $110.96 billion during the quarter, compared to the consensus estimate of $109.90 billion. During the same quarter in the previous year, the company posted $9.86 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts expect that McKesson Corporation will post 46.21 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is presently 9.67%.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers.

The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care.

Founded in 1833, McKesson serves customers primarily in the United States and Canada.