McKesson Corporation $MCK Holdings Decreased by Goldstein Advisors LLC

Goldstein Advisors LLC lowered its position in McKesson Corporation (NYSE:MCK) by 14.7% during the second quarter, HoldingsChannel.com reports. The firm owned 320 shares of the company’s stock after selling 55 shares during the quarter. Goldstein Advisors LLC’s holdings in McKesson were worth $234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in 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 purchasing an additional 14 shares in the last quarter. Palisade Asset Management LLC grew its stake in McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock valued at $481,000 after purchasing an additional 15 shares in the last quarter. SteelPeak Wealth LLC grew its stake in McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after purchasing an additional 15 shares in the last quarter. Cypress Wealth Services LLC grew its stake in McKesson by 3.7% in the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after purchasing an additional 15 shares in the last quarter. Finally, Keystone Financial Services grew its stake in McKesson by 1.2% in the first quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock valued at $945,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $788.27 on Friday. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $793.97. The stock has a market capitalization of $98.05 billion, a PE ratio of 31.43, a P/E/G ratio of 1.42 and a beta of 0.52. The stock has a 50-day simple moving average of $716.48 and a 200 day simple moving average of $710.07.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period in the prior year, the firm posted $7.88 EPS. McKesson’s revenue for the quarter was up 23.4% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is presently 13.08%.

Analyst Ratings Changes

A number of research analysts have commented on MCK shares. Mizuho boosted their target price on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Morgan Stanley boosted their price target on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Evercore ISI boosted their price target on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Jefferies Financial Group boosted their price target on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Citigroup 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. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $834.54.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 24,189 shares of company stock valued at $16,722,190 in the last three months. 0.08% of the stock is owned by insiders.

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.