Mesirow Financial Investment Management Inc. Has $5.01 Million Stock Position in McKesson Corporation $MCK

Mesirow Financial Investment Management Inc. lowered its stake in McKesson Corporation (NYSE:MCK) by 1.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,832 shares of the company’s stock after selling 75 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in McKesson were worth $5,007,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares in the last quarter. Cardinal Point Capital Management ULC grew its position in shares of McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after purchasing an additional 14 shares in the last quarter. SteelPeak Wealth LLC grew its position in shares of McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after purchasing an additional 15 shares in the last quarter. Cypress Wealth Services LLC grew its position in shares of McKesson by 3.7% during the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after purchasing an additional 15 shares in the last quarter. Finally, HBK Sorce Advisory LLC grew its position in shares of McKesson by 1.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock worth $866,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MCK. Wells Fargo & Company increased their target price on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Mizuho increased their target price on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners upped their price target on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley upped their price target on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $839.15.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of McKesson 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 sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by company insiders.

McKesson Trading Down 1.6%

McKesson stock opened at $811.96 on Friday. The company has a market capitalization of $100.99 billion, a PE ratio of 32.37, a P/E/G ratio of 1.46 and a beta of 0.52. McKesson Corporation has a 12 month low of $498.32 and a 12 month high of $846.32. The stock has a 50-day moving average price of $741.39 and a two-hundred day moving average price of $718.80.

McKesson (NYSE:MCK) last released its quarterly earnings results 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). The business had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the business posted $7.88 EPS. As a group, analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 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.