Ingalls & Snyder LLC Lowers Position in McKesson Corporation $MCK

Ingalls & Snyder LLC trimmed its holdings in McKesson Corporation (NYSE:MCK) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,177 shares of the company’s stock after selling 31 shares during the period. Ingalls & Snyder LLC’s holdings in McKesson were worth $10,389,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Acadian Asset Management LLC lifted its position 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 valued at $254,979,000 after acquiring an additional 68,294 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of McKesson in the first quarter valued at about $289,000. Archford Capital Strategies LLC lifted its position 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 valued at $1,668,000 after acquiring an additional 1,372 shares in the last quarter. LPL Financial LLC lifted its position in shares of McKesson by 12.8% in the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after acquiring an additional 17,750 shares in the last quarter. Finally, Focus Partners Wealth lifted its position 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 acquiring an additional 2,283 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of NYSE MCK opened at $802.17 on Friday. The business’s 50 day moving average is $728.97 and its two-hundred day moving average is $714.24. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $807.75. The stock has a market capitalization of $99.77 billion, a P/E ratio of 31.98, a PEG ratio of 1.44 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.88 earnings per share. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.82 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. TD Cowen boosted their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Finally, Mizuho boosted their target price on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $834.54.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’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 value of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 completion of the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock valued at $16,722,190 in the last quarter. 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.