McKesson Corporation $MCK Stock Holdings Lessened by InTrack Investment Management Inc

InTrack Investment Management Inc lowered its position in McKesson Corporation (NYSE:MCK) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,490 shares of the company’s stock after selling 206 shares during the period. McKesson accounts for 1.7% of InTrack Investment Management Inc’s portfolio, making the stock its 14th largest holding. InTrack Investment Management Inc’s holdings in McKesson were worth $2,558,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MCK. Brighton Jones LLC increased its holdings in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in McKesson by 20.3% in the first quarter. Farther Finance Advisors LLC now owns 2,526 shares of the company’s stock worth $1,702,000 after buying an additional 427 shares during the last quarter. GAMMA Investing LLC increased its holdings in McKesson by 12.5% in the first quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock worth $2,393,000 after buying an additional 396 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in McKesson in the first quarter worth approximately $410,000. Finally, SG Americas Securities LLC increased its holdings in McKesson by 303.7% in the first quarter. SG Americas Securities LLC now owns 5,369 shares of the company’s stock worth $3,613,000 after buying an additional 4,039 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MCK shares. Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company increased their price target on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Finally, Evercore ISI increased their price target on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $829.08.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the firm’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer directly owned 27,872 shares of the company’s stock, valued at approximately $19,735,884.48. This trade represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by company insiders.

McKesson Trading Up 0.7%

Shares of McKesson stock opened at $755.32 on Thursday. The company’s fifty day simple moving average is $704.88 and its 200-day simple moving average is $704.72. The company has a market cap of $93.95 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.35 and a beta of 0.52. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $776.14.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.88 EPS. As a group, research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is 13.08%.

McKesson Company Profile

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.