Thrivent Financial for Lutherans Sells 2,487 Shares of McKesson Corporation $MCK

Thrivent Financial for Lutherans decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 13.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 16,117 shares of the company’s stock after selling 2,487 shares during the period. Thrivent Financial for Lutherans’ holdings in McKesson were worth $11,755,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Solstein Capital LLC lifted its position in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. State of Wyoming acquired a new stake in shares of McKesson in the second quarter valued at about $29,000. GFG Capital LLC bought a new stake in McKesson during the second quarter worth about $30,000. Delos Wealth Advisors LLC acquired a new position in McKesson during the second quarter valued at approximately $35,000. Finally, Saudi Central Bank bought a new position in McKesson in the first quarter valued at approximately $34,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by company insiders.

McKesson Stock Performance

NYSE MCK opened at $806.86 on Thursday. The stock has a market cap of $99.59 billion, a PE ratio of 25.11, a P/E/G ratio of 1.33 and a beta of 0.38. The firm has a 50-day moving average of $824.06 and a 200-day moving average of $750.38. McKesson Corporation has a 52-week low of $558.36 and a 52-week high of $895.58.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same period in the prior year, the firm earned $7.07 EPS. The business’s revenue was up 10.2% on a year-over-year basis. As a group, analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $0.82 per share. 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MCK shares. Barclays initiated coverage on McKesson in a research note on Monday, December 8th. They set an “overweight” rating and a $960.00 price objective on the stock. UBS Group upped their price target on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Bank of America raised their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.

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.