Copperwynd Financial LLC Sells 57 Shares of McKesson Corporation $MCK

Copperwynd Financial LLC trimmed its position in McKesson Corporation (NYSE:MCK) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,258 shares of the company’s stock after selling 57 shares during the quarter. Copperwynd Financial LLC’s holdings in McKesson were worth $1,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MCK. Bank of Jackson Hole Trust raised 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 purchasing an additional 18 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares during the period. Saudi Central Bank bought a new stake in shares of McKesson in the 1st quarter valued at about $34,000. Flaharty Asset Management LLC bought a new stake in shares of McKesson in the 1st quarter valued at about $39,000. Finally, Pandora Wealth Inc. bought a new stake in shares of McKesson in the 1st quarter valued at about $40,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the firm’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 sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock worth $30,438,602 in the last quarter. 0.08% of the stock is currently owned by company insiders.

McKesson Trading Up 0.7%

NYSE MCK opened at $755.32 on Thursday. The firm has a market capitalization of $93.95 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 1.35 and a beta of 0.52. The firm’s 50 day simple moving average is $704.88 and its 200 day simple moving average is $704.72. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $776.14.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion for the quarter, compared to analyst estimates 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 was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.88 EPS. On average, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current 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 given a dividend of $0.82 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is 13.08%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MCK shares. Bank of America increased their price target on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company increased their price target on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a report on Wednesday. Finally, Citigroup increased 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $829.08.

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.