Tempus Wealth Planning LLC Has $209,000 Holdings in McKesson Corporation $MCK

Tempus Wealth Planning LLC trimmed its holdings in McKesson Corporation (NYSE:MCK) by 18.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 285 shares of the company’s stock after selling 66 shares during the quarter. Tempus Wealth Planning LLC’s holdings in McKesson were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares during the period. CVA Family Office LLC lifted its stake in shares of McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock valued at $178,000 after buying an additional 15 shares during the period. Palisade Asset Management LLC grew its position in McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after buying an additional 15 shares in the last quarter. SteelPeak Wealth LLC increased its stake in McKesson by 0.5% during the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after acquiring an additional 15 shares during the period. Finally, Parallel Advisors LLC raised its holdings in McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock valued at $1,683,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 3.3%

Shares of MCK stock opened at $760.82 on Monday. The company has a market capitalization of $94.63 billion, a P/E ratio of 30.34, a P/E/G 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. The firm has a 50-day moving average price of $697.79 and a 200 day moving average price of $699.99.

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

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 boost from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, August 8th. The shares were 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. This represents a 33.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MCK. Morgan Stanley lifted their price objective on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report 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. Wells Fargo & Company increased their price objective 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. Mizuho lifted their target price on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Finally, UBS Group upped their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $829.08.

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.