McKesson Corporation $MCK Shares Sold by Forum Financial Management LP

Forum Financial Management LP trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,500 shares of the company’s stock after selling 40 shares during the period. Forum Financial Management LP’s holdings in McKesson were worth $1,099,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its holdings in McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares in the last quarter. SteelPeak Wealth LLC increased its holdings in McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after purchasing an additional 15 shares in the last quarter. Cypress Wealth Services LLC increased its holdings in McKesson by 3.7% in the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after purchasing an additional 15 shares in the last quarter. Valmark Advisers Inc. increased its holdings in McKesson by 2.1% in the 2nd quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after purchasing an additional 17 shares in the last quarter. Finally, Parcion Private Wealth LLC increased its holdings in McKesson by 1.4% in the 2nd quarter. Parcion Private Wealth LLC now owns 1,191 shares of the company’s stock valued at $873,000 after purchasing an additional 17 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE:MCK opened at $794.06 on Friday. The firm has a 50-day moving average of $726.39 and a two-hundred day moving average of $712.79. 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 1-year low of $492.39 and a 1-year high of $799.50.

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 analysts’ consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the company earned $7.88 earnings per share. As a group, equities analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on MCK shares. Deutsche Bank Aktiengesellschaft increased their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Citigroup increased their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. increased their price target on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. UBS Group increased their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Cowen reissued a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $834.54.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, 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 transaction 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 McKesson stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock valued at $16,722,190 over the last quarter. Insiders own 0.08% of the company’s stock.

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.