Clifford Swan Investment Counsel LLC Sells 2,303 Shares of McKesson Corporation $MCK

Clifford Swan Investment Counsel LLC lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,938 shares of the company’s stock after selling 2,303 shares during the period. McKesson accounts for approximately 1.0% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 28th biggest position. Clifford Swan Investment Counsel LLC’s holdings in McKesson were worth $28,533,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB increased its stake in 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. SteelPeak Wealth LLC raised its holdings in McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after acquiring an additional 15 shares during the last quarter. Cypress Wealth Services LLC lifted its position in McKesson by 3.7% in the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after acquiring an additional 15 shares in the last quarter. Valmark Advisers Inc. boosted its stake in McKesson by 2.1% during the 2nd quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after purchasing an additional 17 shares during the last quarter. Finally, Parcion Private Wealth LLC raised its stake in shares of McKesson by 1.4% in the second quarter. Parcion Private Wealth LLC now owns 1,191 shares of the company’s stock worth $873,000 after purchasing an additional 17 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 1.1%

NYSE:MCK opened at $795.93 on Thursday. The business’s 50-day simple moving average is $724.00 and its two-hundred day simple moving average is $711.88. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $797.27. The stock has a market cap of $99.00 billion, a PE ratio of 31.74, a P/E/G ratio of 1.42 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business’s revenue was up 23.4% on a year-over-year basis. During the same period last year, the company earned $7.88 EPS. Sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the firm’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 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 $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction 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 transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley raised their target price on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Leerink Partners boosted their price target on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Wells Fargo & Company upped their price target on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Finally, TD Cowen lifted their price objective on McKesson from $830.00 to $864.00 and gave the company 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 issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $834.54.

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.