Copperwynd Financial LLC Sells 57 Shares of McKesson Corporation $MCK

Copperwynd Financial LLC cut its holdings in McKesson Corporation (NYSE:MCK) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,258 shares of the company’s stock after selling 57 shares during the period. Copperwynd Financial LLC’s holdings in McKesson were worth $1,655,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB raised its position 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 valued at $632,000 after acquiring an additional 14 shares during the last quarter. CVA Family Office LLC raised its position in shares of McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company’s stock valued at $178,000 after acquiring an additional 15 shares during the last quarter. Palisade Asset Management LLC raised its position in shares of McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock valued at $481,000 after acquiring an additional 15 shares during the last quarter. SteelPeak Wealth LLC raised its position in shares of McKesson by 0.5% during the 1st 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 last quarter. Finally, Keystone Financial Services raised its position in shares of McKesson by 1.2% during the 1st quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock valued at $945,000 after acquiring an additional 17 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The transaction 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 stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,560 shares of company stock valued at $30,438,602. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.7%

Shares of NYSE MCK opened at $755.32 on Thursday. The firm has a market cap of $93.95 billion, a PE ratio of 30.12, a PEG ratio of 1.35 and a beta of 0.52. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $776.14. The company has a fifty day moving average price of $704.88 and a 200 day moving average price of $704.72.

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

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Bank of America upped their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Mizuho upped their price objective 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. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $829.08.

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.