Federated Hermes Inc. Sells 1,540 Shares of McKesson Corporation $MCK

Federated Hermes Inc. lowered its holdings in shares of McKesson Corporation (NYSE:MCK) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,674 shares of the company’s stock after selling 1,540 shares during the period. Federated Hermes Inc.’s holdings in McKesson were worth $20,607,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MCK. Solstein Capital LLC grew its position in shares of McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after buying an additional 24 shares during the last quarter. State of Wyoming acquired a new position in shares of McKesson in the second quarter worth approximately $29,000. GFG Capital LLC bought a new stake in McKesson in the second quarter valued at approximately $30,000. Abound Wealth Management boosted its holdings in McKesson by 104.3% in the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares during the last quarter. Finally, Delos Wealth Advisors LLC acquired a new stake in McKesson during the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of analyst reports. Barclays started coverage on shares of McKesson in a research note on Monday, December 8th. They issued an “overweight” rating and a $960.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a research report on Monday, December 29th. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Finally, Robert W. Baird set a $968.00 target price on McKesson in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $899.36.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’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 transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $831.32 on Friday. The company has a 50-day moving average price of $828.09 and a 200-day moving average price of $773.56. The stock has a market capitalization of $102.61 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.35 and a beta of 0.41. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58.

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

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

McKesson Profile

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.