Clarius Group LLC Sells 58 Shares of McKesson Corporation $MCK

Clarius Group LLC lessened its holdings in McKesson Corporation (NYSE:MCK) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,030 shares of the company’s stock after selling 58 shares during the quarter. Clarius Group LLC’s holdings in McKesson were worth $755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CBIZ Investment Advisory Services LLC boosted its stake in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Bank of Jackson Hole Trust boosted its stake in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares during the last quarter. Saudi Central Bank bought a new position in McKesson during the 1st quarter worth approximately $34,000. Flaharty Asset Management LLC bought a new position in McKesson during the 1st quarter worth approximately $39,000. Finally, Signature Resources Capital Management LLC bought a new position in McKesson during the 2nd quarter worth approximately $43,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. JPMorgan Chase & Co. raised their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Bank of America raised their target price on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley raised their target price on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $829.08.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. In the last three months, insiders sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is currently owned by insiders.

McKesson Stock Down 2.7%

Shares of MCK stock opened at $738.00 on Monday. The company’s fifty day simple moving average is $702.60 and its 200-day simple moving average is $703.48. The firm has a market cap of $91.79 billion, a PE ratio of 29.43, a P/E/G ratio of 1.32 and a beta of 0.52. McKesson Corporation has a 12 month low of $480.39 and a 12 month high of $776.14.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion during 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 business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.88 EPS. On average, equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.82 dividend. This is a boost 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%. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s payout ratio is presently 13.08%.

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.