Segall Bryant & Hamill LLC Decreases Stock Holdings in McKesson Corporation $MCK

Segall Bryant & Hamill LLC reduced its holdings in shares of McKesson Corporation (NYSE:MCK) by 39.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,586 shares of the company’s stock after selling 29,921 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in McKesson were worth $33,405,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Solstein Capital LLC raised its stake in shares of McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the period. GFG Capital LLC purchased a new stake in McKesson during the second quarter worth about $30,000. Bank of Jackson Hole Trust increased its holdings in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares during the last quarter. Saudi Central Bank bought a new stake in McKesson in the first quarter worth about $34,000. Finally, Access Investment Management LLC purchased a new position in McKesson in the second quarter valued at about $40,000. 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 the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by company insiders.

McKesson Stock Up 2.0%

MCK stock opened at $866.13 on Friday. The stock has a 50-day simple moving average of $788.46 and a two-hundred day simple moving average of $734.59. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $869.74. The firm has a market capitalization of $106.90 billion, a PE ratio of 34.53, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $7.07 earnings per share. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Analysts Set New Price Targets

MCK has been the subject of a number of recent research reports. Robert W. Baird raised their target price on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings raised shares of McKesson from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Bank of America lifted their target price on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, TD Cowen upped their price target 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. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $887.69.

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.