D.A. Davidson & CO. Has $4.02 Million Stake in McKesson Corporation $MCK

D.A. Davidson & CO. decreased its stake in shares of McKesson Corporation (NYSE:MCK) by 10.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,485 shares of the company’s stock after selling 668 shares during the period. D.A. Davidson & CO.’s holdings in McKesson were worth $4,020,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Northern Trust Corp grew its position in shares of McKesson by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after buying an additional 10,179 shares during the period. Boston Partners grew its position in McKesson by 33.3% in the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares during the period. Price T Rowe Associates Inc. MD grew its position in McKesson by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock valued at $868,237,000 after purchasing an additional 107,638 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in McKesson by 16.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock valued at $864,712,000 after purchasing an additional 181,831 shares during the period. Finally, Invesco Ltd. grew its position in McKesson by 0.7% in the 1st quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock valued at $714,543,000 after purchasing an additional 7,108 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MCK. Deutsche Bank Aktiengesellschaft lifted their price target on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley lifted their price target on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Mizuho lifted their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Jefferies Financial Group lifted their price target on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Citigroup lifted their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. One investment 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. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $834.54.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction 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 sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The stock was 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. The trade was a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is currently owned by corporate insiders.

McKesson Price Performance

Shares of MCK stock opened at $802.17 on Friday. The firm has a 50-day moving average of $728.97 and a 200-day moving average of $713.82. The company has a market cap of $99.77 billion, a P/E ratio of 31.98, a P/E/G ratio of 1.43 and a beta of 0.52. McKesson Corporation has a one year low of $492.39 and a one year high of $807.75.

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

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This is an increase 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 was Tuesday, September 2nd. McKesson’s dividend payout ratio is currently 13.08%.

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.