McKesson Corporation $MCK Shares Sold by CreativeOne Wealth LLC

CreativeOne Wealth LLC trimmed its position in McKesson Corporation (NYSE:MCK) by 14.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,504 shares of the company’s stock after selling 1,221 shares during the quarter. CreativeOne Wealth LLC’s holdings in McKesson were worth $5,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Solstein Capital LLC raised its position in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Bank of Jackson Hole Trust boosted its holdings in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the last quarter. GFG Capital LLC acquired a new stake in shares of McKesson in the second quarter worth $30,000. Saudi Central Bank purchased a new position in shares of McKesson during the first quarter worth $34,000. Finally, Flaharty Asset Management LLC acquired a new position in McKesson during the first quarter valued at $39,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price target on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Jefferies Financial Group upped their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. UBS Group lifted their price target on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Bank of America upped their price objective on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $887.69.

McKesson Stock Performance

Shares of NYSE MCK opened at $869.44 on Tuesday. The firm has a fifty day moving average of $791.80 and a 200 day moving average of $736.10. The firm has a market cap of $107.31 billion, a PE ratio of 34.67, a PEG ratio of 1.46 and a beta of 0.51. McKesson Corporation has a one year low of $558.13 and a one year high of $873.45.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $7.07 earnings per share. On average, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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