McKesson Corporation $MCK Shares Sold by Gratus Wealth Advisors LLC

Gratus Wealth Advisors LLC cut its holdings in McKesson Corporation (NYSE:MCK) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,563 shares of the company’s stock after selling 53 shares during the quarter. McKesson comprises about 0.4% of Gratus Wealth Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Gratus Wealth Advisors LLC’s holdings in McKesson were worth $2,611,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its position in shares of McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock worth $3,056,000 after purchasing an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after acquiring an additional 111 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock valued at $15,501,000 after purchasing an additional 3,659 shares during the last quarter. Acadian Asset Management LLC grew its stake in 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 purchasing an additional 68,294 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock worth $123,332,000 after purchasing an additional 7,556 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MCK. Deutsche Bank Aktiengesellschaft boosted their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. UBS Group raised their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company upped their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Finally, Citigroup raised their target price on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $829.08.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’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 transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at $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 have sold 43,560 shares of company stock worth $30,438,602. Insiders own 0.08% of the company’s stock.

McKesson Trading Down 2.7%

NYSE:MCK opened at $738.00 on Monday. The stock has a market capitalization of $91.79 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 1.32 and a beta of 0.52. McKesson Corporation has a 1 year low of $480.39 and a 1 year high of $776.14. The firm has a 50 day moving average of $702.60 and a 200-day moving average of $703.48.

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

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is currently 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.