Mesirow Financial Investment Management Inc. Sells 75 Shares of McKesson Corporation $MCK

Mesirow Financial Investment Management Inc. lowered its position in McKesson Corporation (NYSE:MCK) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,832 shares of the company’s stock after selling 75 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in McKesson were worth $5,007,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of McKesson by 237.6% in the first quarter. DAVENPORT & Co LLC now owns 7,249 shares of the company’s stock valued at $4,879,000 after purchasing an additional 5,102 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of McKesson in the first quarter valued at approximately $108,000. Keybank National Association OH increased its holdings in shares of McKesson by 3.0% in the first quarter. Keybank National Association OH now owns 3,936 shares of the company’s stock valued at $2,649,000 after purchasing an additional 113 shares in the last quarter. Finally, Pinnacle Financial Partners Inc increased its holdings in shares of McKesson by 1.2% in the first quarter. Pinnacle Financial Partners Inc now owns 2,099 shares of the company’s stock valued at $1,413,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $811.96 on Friday. The company has a fifty day moving average price of $741.39 and a two-hundred day moving average price of $718.80. McKesson Corporation has a 52 week low of $498.32 and a 52 week high of $846.32. The firm has a market capitalization of $100.99 billion, a PE ratio of 32.37, a P/E/G ratio of 1.46 and a beta of 0.52.

McKesson (NYSE:MCK) last announced 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 net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same period last year, the firm earned $7.88 EPS. McKesson’s quarterly revenue was up 23.4% on a year-over-year basis. Equities analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is currently 13.08%.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. TD Cowen raised their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Jefferies Financial Group raised their price target on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Bank of America lifted their target price on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $839.15.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s 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 sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 over the last ninety days. 0.08% of the stock is currently owned by insiders.

McKesson 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.