Operose Advisors LLC Sells 94 Shares of McKesson Corporation (NYSE:MCK)

Operose Advisors LLC reduced its position in McKesson Corporation (NYSE:MCK) by 10.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 823 shares of the company’s stock after selling 94 shares during the period. Operose Advisors LLC’s holdings in McKesson were worth $554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. CVA Family Office LLC raised its holdings in McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock worth $178,000 after purchasing an additional 15 shares in the last quarter. Palisade Asset Management LLC raised its holdings in McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after purchasing an additional 15 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after purchasing an additional 15 shares in the last quarter. Parallel Advisors LLC raised 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, Eagle Rock Investment Company LLC raised its holdings in McKesson by 0.4% in the first quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company’s stock worth $3,229,000 after purchasing an additional 17 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the transaction, the chief financial officer directly owned 14,760 shares of the company’s stock, valued at $10,587,348. The trade was a 30.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer directly owned 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,488 shares of company stock valued at $37,242,862. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

McKesson stock opened at $667.14 on Monday. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The stock has a market capitalization of $82.98 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50. The business’s fifty day moving average is $714.12 and its 200 day moving average is $680.33.

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

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.5%. McKesson’s payout ratio is 11.32%.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and issued a $810.00 price objective (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Thursday. UBS Group increased their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 13th. Finally, Evercore ISI raised their price target on McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $718.73.

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.