McKesson Corporation $MCK Position Lowered by Camelot Portfolios LLC

Camelot Portfolios LLC decreased its stake in shares of McKesson Corporation (NYSE:MCK) by 30.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 280 shares of the company’s stock after selling 120 shares during the quarter. Camelot Portfolios LLC’s holdings in McKesson were worth $205,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MCK. Bank of Jackson Hole Trust raised its stake in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC raised its stake in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the period. Saudi Central Bank acquired a new stake in McKesson during the first quarter worth about $34,000. Flaharty Asset Management LLC acquired a new stake in McKesson during the first quarter worth about $39,000. Finally, Pandora Wealth Inc. acquired a new stake in McKesson during the first quarter worth about $40,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday. Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Wells Fargo & Company raised their price target on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Finally, Citigroup raised their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $829.08.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,560 shares of company stock valued at $30,438,602 over the last 90 days. 0.08% of the stock is currently owned by insiders.

McKesson Price Performance

McKesson stock opened at $760.82 on Monday. The firm has a 50 day simple moving average of $697.79 and a 200-day simple moving average of $699.99. The stock has a market capitalization of $94.63 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.36 and a beta of 0.51. McKesson Corporation has a 12-month low of $479.15 and a 12-month high of $770.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company’s revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the business earned $7.88 earnings per share. On average, analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is 13.08%.

McKesson 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.