Boston Trust Walden Corp Sells 188 Shares of McKesson Corporation $MCK

Boston Trust Walden Corp trimmed its stake in McKesson Corporation (NYSE:MCK) by 10.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,607 shares of the company’s stock after selling 188 shares during the quarter. Boston Trust Walden Corp’s holdings in McKesson were worth $1,178,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MCK. Nuveen LLC purchased a new stake in shares of McKesson during the 1st quarter worth $475,235,000. Wellington Management Group LLP lifted its stake in shares of McKesson by 4,559.6% during the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after purchasing an additional 418,524 shares during the last quarter. Boston Partners lifted its stake in shares of McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after purchasing an additional 365,484 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of McKesson by 92.3% during the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after purchasing an additional 312,473 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in shares of McKesson during the 1st quarter worth $140,742,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. TD Cowen increased their price target on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Mizuho upped their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $834.54.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock valued at $16,722,190 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Up 1.2%

McKesson stock opened at $791.40 on Thursday. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $792.34. The company has a market capitalization of $98.43 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The stock has a 50-day moving average price of $711.83 and a 200 day moving average price of $708.47.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $7.88 EPS. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. 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. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s dividend payout ratio is presently 13.08%.

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.