Ethic Inc. Has $3.59 Million Stock Holdings in McKesson Corporation $MCK

Ethic Inc. lessened its holdings in McKesson Corporation (NYSE:MCK) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,945 shares of the company’s stock after selling 60 shares during the period. Ethic Inc.’s holdings in McKesson were worth $3,589,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Jackson Hole Trust boosted its position in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares during the period. CBIZ Investment Advisory Services LLC increased its stake in shares of McKesson by 1,366.7% in 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 last quarter. GFG Capital LLC acquired a new position in shares of McKesson in the second quarter worth $30,000. Saudi Central Bank acquired a new position in shares of McKesson in the first quarter worth $34,000. Finally, Flaharty Asset Management LLC acquired a new position in McKesson in the 1st quarter worth about $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the company’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 transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’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 transaction, the chief accounting officer owned 657 shares in the company, 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 24,189 shares of company stock worth $16,722,190 over the last ninety days. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCK. UBS Group lifted their price objective 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. TD Cowen upped their target price on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Evercore ISI upped their target price on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Mizuho upped their target price on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $834.54.

McKesson Stock Down 0.2%

NYSE MCK opened at $794.06 on Friday. The stock has a market cap of $98.77 billion, a P/E ratio of 31.66, a PEG ratio of 1.43 and a beta of 0.52. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $799.50. The company’s 50-day simple moving average is $726.39 and its 200 day simple moving average is $712.79.

McKesson (NYSE:MCK) last issued 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). The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.88 earnings per share. Research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

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

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.