Patton Albertson Miller Group LLC Sells 669 Shares of McKesson Corporation $MCK

Patton Albertson Miller Group LLC decreased its position in shares of McKesson Corporation (NYSE:MCK) by 4.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 13,564 shares of the company’s stock after selling 669 shares during the quarter. McKesson makes up approximately 1.3% of Patton Albertson Miller Group LLC’s portfolio, making the stock its 18th biggest position. Patton Albertson Miller Group LLC’s holdings in McKesson were worth $9,940,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after buying an additional 14 shares in the last quarter. CVA Family Office LLC grew its stake in shares of McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock valued at $178,000 after buying an additional 15 shares in the last quarter. Palisade Asset Management LLC grew its stake in McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after purchasing an additional 15 shares in the last quarter. SteelPeak Wealth LLC grew its stake in McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after purchasing an additional 15 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock worth $1,683,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $760.82 on Friday. McKesson Corporation has a 1 year low of $479.15 and a 1 year high of $770.00. The stock has a market cap of $94.63 billion, a P/E ratio of 30.34, a P/E/G ratio of 1.36 and a beta of 0.51. The stock has a 50-day simple moving average of $697.79 and a 200-day simple moving average of $699.59.

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

McKesson Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley boosted their target price on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Evercore ISI upped their price objective on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, TD Cowen upped their price objective on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $829.08.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’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 completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,560 shares of company stock valued at $30,438,602 over the last three months. Company insiders own 0.08% of the company’s stock.

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.