D.A. Davidson & CO. Sells 668 Shares of McKesson Corporation $MCK

D.A. Davidson & CO. lowered its stake in McKesson Corporation (NYSE:MCK) by 10.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,485 shares of the company’s stock after selling 668 shares during the quarter. D.A. Davidson & CO.’s holdings in McKesson were worth $4,020,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in shares of McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after acquiring an additional 68,294 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of McKesson in the first quarter worth about $289,000. Archford Capital Strategies LLC lifted its holdings in shares of McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after acquiring an additional 1,372 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of McKesson by 12.8% in the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after acquiring an additional 17,750 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in shares of McKesson by 3.3% in the first quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock valued at $48,159,000 after buying an additional 2,283 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCK. Jefferies Financial Group raised their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Bank of America raised their price objective on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. UBS Group raised their price objective on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $834.54.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the firm’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 completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,189 shares of company stock valued at $16,722,190. Company insiders own 0.08% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $802.17 on Friday. McKesson Corporation has a 52-week low of $492.39 and a 52-week high of $807.75. The firm has a 50 day moving average price of $728.97 and a two-hundred day moving average price of $713.82. The firm has a market cap of $99.77 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 1.43 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) 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 the consensus estimate of $95.93 billion. During the same quarter in the previous year, the business posted $7.88 EPS. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

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