Perfromance Wealth Partners LLC Sells 42 Shares of McKesson Corporation $MCK

Perfromance Wealth Partners LLC lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,448 shares of the company’s stock after selling 42 shares during the period. Perfromance Wealth Partners LLC’s holdings in McKesson were worth $1,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares in the last quarter. GAMMA Investing LLC increased its position in McKesson by 12.5% in the 1st quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock valued at $2,393,000 after acquiring an additional 396 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of McKesson by 71.1% in the first quarter. NorthCrest Asset Manangement LLC now owns 727 shares of the company’s stock worth $489,000 after acquiring an additional 302 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock worth $123,332,000 after purchasing an additional 7,556 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its position in shares of McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after purchasing an additional 111 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on MCK shares. Citigroup raised their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price objective on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Jefferies Financial Group set a $900.00 target price on McKesson and gave the stock a “buy” rating in a research report on Monday. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Finally, TD Cowen lifted their price objective on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $834.54.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,189 shares of company stock worth $16,722,190 in the last three months. 0.08% of the stock is owned by insiders.

McKesson Stock Up 0.7%

MCK stock opened at $768.79 on Tuesday. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $776.14. The company has a market cap of $95.62 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 1.38 and a beta of 0.52. The business’s fifty day moving average is $708.64 and its 200-day moving average is $707.37.

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 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 analyst estimates of $95.93 billion. During the same period last year, the firm earned $7.88 earnings per share. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. Research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.82 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio is 13.08%.

McKesson 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.