Ethic Inc. Has $3.59 Million Stake in McKesson Corporation $MCK

Ethic Inc. reduced its holdings in McKesson Corporation (NYSE:MCK) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,945 shares of the company’s stock after selling 60 shares during the period. Ethic Inc.’s holdings in McKesson were worth $3,589,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GFG Capital LLC acquired a new position in McKesson in the second quarter valued at approximately $30,000. CBIZ Investment Advisory Services LLC lifted its holdings in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after buying an additional 41 shares during the period. Bank of Jackson Hole Trust lifted its holdings in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares during the period. Saudi Central Bank acquired a new position in McKesson in the first quarter valued at approximately $34,000. Finally, Flaharty Asset Management LLC acquired a new position in McKesson in the first quarter valued at approximately $39,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Citigroup upped their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. UBS Group upped their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Evercore ISI upped their target price on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $834.54.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock valued at $16,722,190 in the last three months. 0.08% of the stock is owned by insiders.

McKesson Stock Down 0.2%

Shares of MCK stock opened at $794.06 on Friday. The firm has a fifty day moving average of $726.39 and a 200-day moving average of $712.79. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $799.50. The company has a market capitalization of $98.77 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 1.43 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the prior year, the company earned $7.88 EPS. The firm’s revenue was up 23.4% on a year-over-year basis. On average, equities analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

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