Fiduciary Family Office LLC Cuts Holdings in McKesson Corporation $MCK

Fiduciary Family Office LLC lessened its stake in McKesson Corporation (NYSE:MCK) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,276 shares of the company’s stock after selling 148 shares during the period. Fiduciary Family Office LLC’s holdings in McKesson were worth $1,668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Jackson Hole Trust grew its stake in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake 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 valued at $30,000 after purchasing an additional 41 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of McKesson in the 2nd quarter valued at $30,000. Saudi Central Bank purchased a new stake in shares of McKesson in the 1st quarter valued at $34,000. Finally, Flaharty Asset Management LLC purchased a new stake in shares of McKesson in the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.3%

Shares of McKesson stock opened at $788.38 on Tuesday. The firm has a market cap of $98.06 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $793.97. The company’s fifty day simple moving average is $718.77 and its two-hundred day simple moving average is $710.76.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s revenue was up 23.4% on a year-over-year basis. During the same period last year, the business earned $7.88 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. TD Cowen upped their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Evercore ISI upped their price objective on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Leerink Partners upped their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $834.54.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction 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 in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction 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 trade represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock valued at $16,722,190 over the last 90 days. Company insiders own 0.08% of the company’s stock.

McKesson Company 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.