Relyea Zuckerberg Hanson LLC Sells 34 Shares of McKesson Corporation $MCK

Relyea Zuckerberg Hanson LLC decreased its stake in McKesson Corporation (NYSE:MCK) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,484 shares of the company’s stock after selling 34 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in McKesson were worth $1,087,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Bank of Jackson Hole Trust grew its position in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after buying an additional 41 shares during the last quarter. Saudi Central Bank bought a new stake in McKesson in the first quarter valued at $34,000. Flaharty Asset Management LLC bought a new stake in McKesson during the 1st quarter valued at approximately $39,000. Finally, Pandora Wealth Inc. bought a new stake in shares of McKesson during the first quarter valued at approximately $40,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated 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 sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The transaction 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 on Friday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,560 shares of company stock valued at $30,438,602. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group boosted 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. Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Morgan Stanley raised their target price on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Wells Fargo & Company lifted their target price on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $829.08.

McKesson Stock Down 2.7%

MCK stock opened at $738.00 on Monday. The firm has a market cap of $91.79 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.32 and a beta of 0.52. McKesson Corporation has a twelve month low of $480.39 and a twelve month high of $776.14. The business’s fifty day simple moving average is $702.60 and its two-hundred day simple moving average is $703.48.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 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 analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.88 EPS. Research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.82 dividend. 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%. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is 13.08%.

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.