Denali Advisors LLC Sells 64 Shares of McKesson Corporation $MCK

Denali Advisors LLC cut its position in McKesson Corporation (NYSE:MCK) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,954 shares of the company’s stock after selling 64 shares during the quarter. Denali Advisors LLC’s holdings in McKesson were worth $2,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Brighton Jones LLC increased its stake in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the period. GAMMA Investing LLC increased its stake in shares of McKesson by 12.5% in the first quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock valued at $2,393,000 after buying an additional 396 shares during the period. PFG Investments LLC acquired a new stake in shares of McKesson in the first quarter valued at about $206,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock valued at $15,501,000 after buying an additional 3,659 shares during the period. Finally, Sawgrass Asset Management LLC acquired a new stake in shares of McKesson in the first quarter valued at about $303,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. UBS Group raised their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Mizuho raised their target price on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Evercore ISI raised their target price on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Jefferies Financial Group raised their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $834.54.

McKesson Stock Performance

Shares of McKesson stock opened at $786.96 on Wednesday. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $793.97. The stock has a 50 day moving average price of $721.34 and a two-hundred day moving average price of $711.29. The stock has a market capitalization of $97.88 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis 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 payout ratio is 13.08%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred 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 transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock valued at $16,722,190 in the last three months. 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.