Klein Pavlis & Peasley Financial Inc. Has $1.05 Million Holdings in McKesson Corporation $MCK

Klein Pavlis & Peasley Financial Inc. trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 18.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,439 shares of the company’s stock after selling 321 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in McKesson were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in 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 acquiring an additional 798 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of McKesson by 18.2% during the 4th quarter. Wellington Management Group LLP now owns 9,179 shares of the company’s stock valued at $5,231,000 after purchasing an additional 1,413 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of McKesson by 79.4% in the 1st quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $234,000 after purchasing an additional 154 shares during the last quarter. Parallel Advisors LLC boosted its holdings in McKesson by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock worth $1,683,000 after purchasing an additional 16 shares in the last quarter. Finally, Cascade Investment Advisors Inc. acquired a new position in McKesson during the first quarter worth $232,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Sunday. TD Cowen boosted their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Wednesday. Citigroup lifted their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Mizuho upped their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $829.08.

McKesson Trading Up 3.3%

Shares of McKesson stock opened at $760.82 on Monday. The company’s fifty day simple moving average is $697.79 and its 200-day simple moving average is $699.99. The company has a market cap of $94.63 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.36 and a beta of 0.51. McKesson Corporation has a 1 year low of $479.15 and a 1 year high of $770.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 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 company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the previous year, the company earned $7.88 earnings per share. McKesson’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This is a boost from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 13.08%.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the business’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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is owned by company insiders.

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.