McKesson Corporation $MCK Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC decreased its position in McKesson Corporation (NYSE:MCK) by 3.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 117,025 shares of the company’s stock after selling 4,344 shares during the period. McKesson makes up about 2.5% of Anchor Capital Advisors LLC’s holdings, making the stock its 2nd largest holding. Anchor Capital Advisors LLC’s holdings in McKesson were worth $85,754,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Solstein Capital LLC raised its stake in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. Bank of Jackson Hole Trust grew its holdings in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in 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 buying an additional 41 shares during the period. GFG Capital LLC purchased a new stake in McKesson in the 2nd quarter valued at about $30,000. Finally, Saudi Central Bank purchased a new stake in McKesson in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. UBS Group lifted their price target on McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a report on Monday, October 27th. Morgan Stanley lifted their price target on McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company lifted their price target on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Finally, Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $839.15.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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 owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 approximately $436,031.19. This represents a 33.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $846.51 on Thursday. McKesson Corporation has a 1 year low of $530.39 and a 1 year high of $863.32. The stock has a market capitalization of $105.29 billion, a P/E ratio of 33.75, a PEG ratio of 1.46 and a beta of 0.52. The stock has a 50-day simple moving average of $750.73 and a 200-day simple moving average of $721.95.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter in the previous year, the business earned $7.07 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is presently 13.08%.

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.