McKesson Corporation $MCK Shares Sold by Forum Financial Management LP

Forum Financial Management LP lowered its holdings in McKesson Corporation (NYSE:MCK) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,500 shares of the company’s stock after selling 40 shares during the period. Forum Financial Management LP’s holdings in McKesson were worth $1,099,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its holdings in 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 acquiring an additional 1,592 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after acquiring an additional 68,294 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in McKesson in the first quarter worth about $289,000. Archford Capital Strategies LLC lifted its holdings in McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after acquiring an additional 1,372 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in McKesson by 12.8% in the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after acquiring an additional 17,750 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.2%

Shares of NYSE:MCK opened at $794.06 on Friday. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $799.50. The firm has a market capitalization of $98.77 billion, a P/E ratio of 31.66, a PEG ratio of 1.43 and a beta of 0.52. The firm’s 50 day moving average is $726.39 and its two-hundred day moving average is $712.79.

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. Analysts predict 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. 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%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MCK. Evercore ISI raised their target price on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson 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. JPMorgan Chase & Co. raised their price target 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, TD Cowen raised their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $834.54.

Insider Buying and Selling

In related 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 transaction of $8,418,165.90. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, 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 24,189 shares of company stock worth $16,722,190 in the last quarter. Company insiders own 0.08% of the company’s stock.

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.