McKesson Corporation $MCK Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its position in McKesson Corporation (NYSE:MCK) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,357 shares of the company’s stock after selling 7,901 shares during the period. Mackenzie Financial Corp owned 0.28% of McKesson worth $256,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of McKesson by 124.2% in the first quarter. Arkadios Wealth Advisors now owns 4,138 shares of the company’s stock worth $2,784,000 after buying an additional 2,292 shares in the last quarter. Harbour Investments Inc. boosted its position in McKesson by 3.6% during the first quarter. Harbour Investments Inc. now owns 1,323 shares of the company’s stock worth $891,000 after acquiring an additional 46 shares during the last quarter. Shufro Rose & Co. LLC purchased a new stake in McKesson during the 1st quarter valued at about $202,000. Finally, Lynwood Price Capital Management LP raised its holdings in McKesson by 73.0% in the 1st quarter. Lynwood Price Capital Management LP now owns 21,800 shares of the company’s stock valued at $14,671,000 after acquiring an additional 9,200 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Down 0.5%

MCK stock opened at $879.00 on Friday. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58. The stock has a market cap of $108.49 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The business has a fifty day moving average of $807.11 and a two-hundred day moving average of $740.86.

McKesson (NYSE:MCK) last announced 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. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.07 EPS. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Jefferies Financial Group boosted their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Citigroup raised their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Leerink Partners boosted their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $887.69.

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.