SG Americas Securities LLC Sells 26,261 Shares of McKesson Corporation $MCK

SG Americas Securities LLC reduced its holdings in McKesson Corporation (NYSE:MCK) by 80.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,374 shares of the company’s stock after selling 26,261 shares during the quarter. SG Americas Securities LLC’s holdings in McKesson were worth $4,924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Solstein Capital LLC grew its holdings in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares in the last quarter. State of Wyoming purchased a new stake in McKesson in the second quarter valued at approximately $29,000. GFG Capital LLC bought a new stake in McKesson during the second quarter valued at approximately $30,000. Delos Wealth Advisors LLC bought a new stake in McKesson during the second quarter valued at approximately $35,000. Finally, Abound Wealth Management grew its stake in McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the completion of the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the 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. This trade represents a 50.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

MCK has been the topic of several research reports. Leerink Partners raised their price objective 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. Zacks Research cut McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Bank of America raised their price target on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. UBS Group upped their price objective on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Cowen reiterated a “buy” rating on shares of McKesson in a research report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $892.86.

McKesson Stock Up 0.2%

Shares of NYSE:MCK opened at $816.53 on Friday. The stock has a market cap of $100.78 billion, a PE ratio of 25.41, a PEG ratio of 1.34 and a beta of 0.41. The company’s fifty day moving average is $834.49 and its 200 day moving average is $762.67. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $7.07 earnings per share. Sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.