Whipplewood Advisors LLC Has $292,000 Holdings in McKesson Corporation $MCK

Whipplewood Advisors LLC lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 50.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 399 shares of the company’s stock after selling 408 shares during the period. Whipplewood Advisors LLC’s holdings in McKesson were worth $292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its holdings in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the period. GAMMA Investing LLC raised its position in shares of McKesson by 12.5% during the first quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock valued at $2,393,000 after buying an additional 396 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of McKesson by 24.1% in the first quarter. Sequoia Financial Advisors LLC now owns 8,696 shares of the company’s stock valued at $5,852,000 after buying an additional 1,688 shares during the period. Perpetual Ltd grew its position in McKesson by 24.0% during the first quarter. Perpetual Ltd now owns 2,401 shares of the company’s stock worth $1,616,000 after buying an additional 464 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its stake in McKesson by 19.8% during the first quarter. Transcend Capital Advisors LLC now owns 1,161 shares of the company’s stock valued at $781,000 after acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MCK shares. Wells Fargo & Company boosted 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. Morgan Stanley raised their price target on McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. TD Cowen boosted their price objective on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Mizuho raised their target price on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $834.54.

McKesson Stock Performance

Shares of MCK stock opened at $802.17 on Friday. The company has a market capitalization of $99.77 billion, a P/E ratio of 31.98, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $807.75. The company’s 50 day moving average price is $728.97 and its two-hundred day moving average price is $714.24.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $95.93 billion. During the same period in the previous year, the company posted $7.88 earnings per share. McKesson’s revenue for the quarter was up 23.4% on a year-over-year basis. Analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.82 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is 13.08%.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson 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 completion of 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 disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 in the last 90 days. 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.