Genus Capital Management Inc. Has $7.06 Million Position in McKesson Corporation $MCK

Genus Capital Management Inc. reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 20.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,638 shares of the company’s stock after selling 2,436 shares during the quarter. Genus Capital Management Inc.’s holdings in McKesson were worth $7,063,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MCK. Brighton Jones LLC raised its stake in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares in the last quarter. Burling Wealth Partners LLC acquired a new position in McKesson during the first quarter worth $202,000. Capital Investment Advisory Services LLC acquired a new position in McKesson during the first quarter worth $221,000. Concurrent Investment Advisors LLC raised its stake in McKesson by 5.9% during the first quarter. Concurrent Investment Advisors LLC now owns 1,776 shares of the company’s stock worth $1,195,000 after acquiring an additional 99 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in McKesson by 4.0% during the first quarter. Envestnet Asset Management Inc. now owns 282,844 shares of the company’s stock worth $190,351,000 after acquiring an additional 10,877 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 2.8%

McKesson stock opened at $843.19 on Wednesday. The business’s 50-day simple moving average is $747.47 and its 200 day simple moving average is $721.07. The stock has a market cap of $104.88 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.46 and a beta of 0.52. McKesson Corporation has a 12-month low of $520.20 and a 12-month high of $846.43.

McKesson (NYSE:MCK) last posted 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). The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.88 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s 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 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCK has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley increased their target price on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Jefferies Financial Group increased their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, Citigroup increased their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued 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 a consensus price target of $839.15.

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.