KCM Investment Advisors LLC Has $1.05 Million Stake in McKesson Corporation $MCK

KCM Investment Advisors LLC reduced its holdings in McKesson Corporation (NYSE:MCK) by 4.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,435 shares of the company’s stock after selling 70 shares during the period. KCM Investment Advisors LLC’s holdings in McKesson were worth $1,052,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MCK. Nuveen LLC acquired a new position in McKesson in the first quarter valued at approximately $475,235,000. Wellington Management Group LLP raised its stake in shares of McKesson by 4,559.6% in the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after purchasing an additional 418,524 shares during the last quarter. Boston Partners boosted its holdings in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after acquiring an additional 365,484 shares during the last quarter. Voya Investment Management LLC boosted its holdings in McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after purchasing an additional 312,473 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in shares of McKesson during the first quarter valued at approximately $140,742,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCK. Wells Fargo & Company raised their target price on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. TD Cowen raised their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Robert W. Baird boosted their target price on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Morgan Stanley upped their price target on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $880.15.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on 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 sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.08% of the stock is owned by insiders.

McKesson Stock Down 0.9%

NYSE MCK opened at $850.77 on Friday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63. The firm has a market capitalization of $105.82 billion, a P/E ratio of 33.92, a PEG ratio of 1.46 and a beta of 0.51. The company has a 50-day moving average price of $757.54 and a 200-day moving average price of $724.25.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.07 EPS. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

About McKesson

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.