1,342 McKesson Corporation $MCK Shares Sold by Channel Wealth LLC

Channel Wealth LLC trimmed its stake in shares of McKesson Corporation (NYSE:MCK) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,831 shares of the company’s stock after selling 1,342 shares during the quarter. Channel Wealth LLC’s holdings in McKesson were worth $4,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Rosenberg Matthew Hamilton raised its position in shares of McKesson by 2.8% in the third quarter. Rosenberg Matthew Hamilton now owns 406 shares of the company’s stock valued at $347,000 after purchasing an additional 11 shares during the period. Avail Investment Partners LLC lifted its stake in shares of McKesson by 1.7% during the 3rd quarter. Avail Investment Partners LLC now owns 662 shares of the company’s stock worth $566,000 after buying an additional 11 shares during the last quarter. Commonwealth Financial Services LLC boosted its holdings in shares of McKesson by 3.8% during the 3rd quarter. Commonwealth Financial Services LLC now owns 304 shares of the company’s stock worth $260,000 after buying an additional 11 shares during the period. WealthPLAN Partners LLC boosted its holdings in shares of McKesson by 0.4% during the 3rd quarter. WealthPLAN Partners LLC now owns 3,190 shares of the company’s stock worth $2,724,000 after buying an additional 12 shares during the period. Finally, Arista Wealth Management LLC grew its stake in McKesson by 1.0% in the 2nd quarter. Arista Wealth Management LLC now owns 1,446 shares of the company’s stock valued at $1,093,000 after buying an additional 14 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McKesson news, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the transaction, the executive vice president owned 5,423 shares in the company, valued at $5,400,223.40. This trade represents a 12.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of McKesson stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. This represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 2,161 shares of company stock worth $2,242,515. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Up 2.4%

Shares of NYSE:MCK opened at $1,103.31 on Friday. The company’s 50 day moving average price is $955.45 and its two-hundred day moving average price is $874.53. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,121.50. The firm has a market cap of $127.39 billion, a PE ratio of 28.37, a PEG ratio of 1.82 and a beta of 0.27.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 4th. The company reported $11.68 EPS for the quarter, topping the consensus estimate of $10.72 by $0.96. McKesson had a net margin of 1.12% and a negative return on equity of 202.94%. The company had revenue of $110.96 billion for the quarter, compared to analysts’ expectations of $109.90 billion. During the same period last year, the firm earned $9.86 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts expect that McKesson Corporation will post 46.16 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.3%. McKesson’s dividend payout ratio is currently 9.67%.

Analyst Ratings Changes

MCK has been the topic of several research analyst reports. Argus increased their price target on shares of McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Robert W. Baird set a $1,015.00 price objective on McKesson in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on McKesson from $1,042.00 to $1,255.00 and gave the stock an “overweight” rating in a report on Tuesday. UBS Group upped their target price on McKesson from $1,200.00 to $1,250.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Finally, Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,040.29.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.