InTrack Investment Management Inc Sells 206 Shares of McKesson Corporation $MCK

InTrack Investment Management Inc cut its stake in shares of McKesson Corporation (NYSE:MCK) by 5.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,490 shares of the company’s stock after selling 206 shares during the quarter. McKesson makes up 1.7% of InTrack Investment Management Inc’s portfolio, making the stock its 14th largest holding. InTrack Investment Management Inc’s holdings in McKesson were worth $2,558,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company’s stock valued at $178,000 after purchasing an additional 15 shares in the last quarter. Palisade Asset Management LLC lifted its holdings in shares of McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock valued at $481,000 after purchasing an additional 15 shares in the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after purchasing an additional 15 shares in the last quarter. Finally, Keystone Financial Services lifted its holdings in shares of McKesson by 1.2% during the 1st quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock valued at $945,000 after purchasing an additional 17 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 0.7%

Shares of McKesson stock opened at $755.32 on Thursday. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $776.14. The stock has a market cap of $93.95 billion, a P/E ratio of 30.12, a P/E/G ratio of 1.35 and a beta of 0.52. The business’s 50 day moving average is $704.88 and its 200-day moving average is $704.72.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the prior year, the company earned $7.88 EPS. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, sell-side analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is presently 13.08%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Bank of America lifted their price objective on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company boosted their target price on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. JPMorgan Chase & Co. boosted their target price on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $829.08.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’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 transaction of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. The trade was a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock worth $30,438,602 over the last three months. 0.08% of the stock is owned by insiders.

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.