McKesson Corporation $MCK Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC decreased its position in shares of McKesson Corporation (NYSE:MCK) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,435 shares of the company’s stock after selling 70 shares during the period. KCM Investment Advisors LLC’s holdings in McKesson were worth $1,052,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MCK. Northern Trust Corp increased its position in McKesson by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after acquiring an additional 10,179 shares during the period. Boston Partners boosted its stake in shares of McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after acquiring an additional 365,484 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of McKesson by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock valued at $868,237,000 after purchasing an additional 107,638 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of McKesson by 16.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock worth $864,712,000 after acquiring an additional 181,831 shares in the last quarter. Finally, Invesco Ltd. grew its position in McKesson by 0.7% during the 1st quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock worth $714,543,000 after purchasing an additional 7,108 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted 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. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup boosted their price objective on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Mizuho lifted their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $880.15.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on 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 sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $850.77 on Friday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63. The company has a 50 day moving average price of $757.54 and a two-hundred day moving average price of $724.25. The company has a market capitalization of $105.82 billion, a PE ratio of 33.92, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same period last year, the company posted $7.07 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

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.