McKesson Corporation $MCK Position Lowered by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its stake in shares of McKesson Corporation (NYSE:MCK) by 2.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,891 shares of the company’s stock after selling 543 shares during the quarter. Yousif Capital Management LLC’s holdings in McKesson were worth $14,576,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MGO One Seven LLC raised its stake in McKesson by 1.0% during the second quarter. MGO One Seven LLC now owns 4,203 shares of the company’s stock worth $3,080,000 after acquiring an additional 40 shares during the period. CWM LLC raised its stake in McKesson by 5.7% during the second quarter. CWM LLC now owns 14,614 shares of the company’s stock worth $10,709,000 after acquiring an additional 792 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in McKesson by 25.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,263 shares of the company’s stock worth $16,321,000 after acquiring an additional 4,468 shares during the period. Concurrent Investment Advisors LLC raised its stake in McKesson by 11.9% during the second quarter. Concurrent Investment Advisors LLC now owns 1,987 shares of the company’s stock worth $1,456,000 after acquiring an additional 211 shares during the period. Finally, waypoint wealth counsel acquired a new stake in McKesson during the second quarter worth about $208,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MCK shares. Wells Fargo & Company increased their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Bank of America raised their price target on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Leerink Partners raised their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $829.08.

Insider Buying and Selling

In related news, 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 directly owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock valued at $16,722,190 over the last 90 days. 0.08% of the stock is currently owned by insiders.

McKesson Price Performance

NYSE MCK opened at $763.89 on Monday. McKesson Corporation has a 12 month low of $492.39 and a 12 month high of $776.14. The firm has a market capitalization of $95.01 billion, a PE ratio of 30.46, a P/E/G ratio of 1.38 and a beta of 0.52. The company’s 50 day simple moving average is $707.48 and its 200 day simple moving average is $706.67.

McKesson (NYSE:MCK) last posted 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). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the prior year, the business earned $7.88 EPS. McKesson’s revenue was up 23.4% compared to the same quarter last year. Sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. 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 was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is 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.