Richard W. Paul & Associates LLC Reduces Stock Holdings in McKesson Corporation $MCK

Richard W. Paul & Associates LLC lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 25.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 570 shares of the company’s stock after selling 195 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in McKesson were worth $418,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MCK. Solstein Capital LLC raised its stake in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Bank of Jackson Hole Trust boosted its stake 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 acquiring an additional 18 shares in the last quarter. GFG Capital LLC purchased a new position in shares of McKesson during the second quarter worth about $30,000. Saudi Central Bank acquired a new stake in shares of McKesson during the first quarter worth about $34,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of McKesson during the first quarter worth about $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MCK shares. Morgan Stanley upped their target price on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Mizuho boosted their price objective on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Finally, Leerink Partners increased their price target on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $887.69.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

McKesson Trading Up 2.0%

Shares of MCK opened at $866.13 on Friday. The stock’s 50 day moving average is $788.46 and its two-hundred day moving average is $734.59. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $869.74. The firm has a market capitalization of $106.90 billion, a PE ratio of 34.53, a P/E/G ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same period last year, the firm earned $7.07 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 10.21%.

About McKesson

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.