SGL Investment Advisors Inc. Trims Stock Holdings in McKesson Corporation $MCK

SGL Investment Advisors Inc. decreased its position in McKesson Corporation (NYSE:MCK) by 76.3% in the second quarter, HoldingsChannel.com reports. The fund owned 302 shares of the company’s stock after selling 972 shares during the period. SGL Investment Advisors Inc.’s holdings in McKesson were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company’s stock worth $178,000 after purchasing an additional 15 shares during the last quarter. Palisade Asset Management LLC boosted its holdings in shares of 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 during the last quarter. SteelPeak Wealth LLC boosted its holdings in shares of 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 during the last quarter. Finally, Keystone Financial Services raised its position in shares of McKesson by 1.2% during the 1st quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock valued at $945,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.4%

Shares of NYSE MCK opened at $740.82 on Tuesday. The stock has a market cap of $92.15 billion, a P/E ratio of 29.54, a PEG ratio of 1.32 and a beta of 0.52. McKesson Corporation has a 12-month low of $482.44 and a 12-month high of $776.14. The business’s fifty day simple moving average is $703.30 and its 200-day simple moving average is $704.05.

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 net margin of 0.84% and a negative return on equity of 196.66%. The firm’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 earnings per share. On average, equities analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. This is a boost 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 is currently 13.08%.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the 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 transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the company’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,560 shares of company stock worth $30,438,602 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on MCK. Evercore ISI lifted their price target on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their target price on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Deutsche Bank Aktiengesellschaft boosted their target price on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Finally, Bank of America boosted their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $829.08.

McKesson 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.