Kingswood Wealth Advisors LLC Sells 692 Shares of McKesson Corporation $MCK

Kingswood Wealth Advisors LLC lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 32.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,443 shares of the company’s stock after selling 692 shares during the period. Kingswood Wealth Advisors LLC’s holdings in McKesson were worth $1,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Northern Trust Corp lifted its stake in McKesson by 0.7% during 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% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $868,237,000 after purchasing an additional 107,638 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 valued at $864,712,000 after purchasing an additional 181,831 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of McKesson by 0.7% during the 1st quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock valued at $714,543,000 after purchasing an additional 7,108 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer owned 657 shares in the company, valued at $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 is available at 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 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 of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,560 shares of company stock worth $30,438,602. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $755.32 on Thursday. The stock has a market cap of $93.95 billion, a P/E ratio of 30.12, a PEG ratio of 1.35 and a beta of 0.52. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $776.14. The firm’s 50 day moving average price is $704.88 and its 200-day moving average price is $704.72.

McKesson (NYSE:MCK) last released 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 for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.88 EPS. As a group, equities analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 13.08%.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. Citigroup upped their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley upped their price target on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Leerink Partners increased their target price on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.