Ingalls & Snyder LLC Decreases Position in McKesson Corporation $MCK

Ingalls & Snyder LLC lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,177 shares of the company’s stock after selling 31 shares during the quarter. Ingalls & Snyder LLC’s holdings in McKesson were worth $10,389,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp increased its position in shares of McKesson by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after acquiring an additional 10,179 shares during the period. Boston Partners increased its position in shares of McKesson by 33.3% in the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after acquiring an additional 365,484 shares during the period. Price T Rowe Associates Inc. MD grew its position in McKesson by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after purchasing an additional 107,638 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in McKesson by 16.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock worth $864,712,000 after purchasing an additional 181,831 shares during the period. Finally, Invesco Ltd. grew its position in McKesson by 0.7% during the 1st quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock worth $714,543,000 after purchasing an additional 7,108 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Leerink Partners increased their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Wells Fargo & Company increased their price target on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Mizuho increased their price target on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, UBS Group increased their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $834.54.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,189 shares of company stock worth $16,722,190 over the last 90 days. Insiders own 0.08% of the company’s stock.

McKesson Stock Up 1.2%

NYSE:MCK opened at $802.17 on Friday. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $807.75. The stock has a market capitalization of $99.77 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52. The stock’s 50-day moving average price is $728.97 and its 200-day moving average price is $714.24.

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

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio 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.