Dorsey & Whitney Trust CO LLC Trims Holdings in McKesson Corporation $MCK

Dorsey & Whitney Trust CO LLC lowered its holdings in McKesson Corporation (NYSE:MCK) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,472 shares of the company’s stock after selling 72 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in McKesson were worth $1,079,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MCK. Symphony Financial Ltd. Co. bought a new stake in McKesson in the second quarter valued at $94,040,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in McKesson by 12.2% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 103,546 shares of the company’s stock worth $75,876,000 after purchasing an additional 11,231 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new stake in shares of McKesson in the 2nd quarter worth about $953,000. Western Wealth Management LLC boosted its stake in shares of McKesson by 5.7% during the 2nd quarter. Western Wealth Management LLC now owns 2,908 shares of the company’s stock valued at $2,131,000 after purchasing an additional 157 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of McKesson by 11.9% during the second quarter. Rockefeller Capital Management L.P. now owns 25,715 shares of the company’s stock valued at $18,844,000 after buying an additional 2,743 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.7%

Shares of NYSE:MCK opened at $861.33 on Wednesday. The stock has a fifty day simple moving average of $779.78 and a two-hundred day simple moving average of $731.82. The stock has a market capitalization of $106.31 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $867.63.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $7.07 EPS. As a group, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on MCK shares. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Leerink Partners raised their target price on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Robert W. Baird upped their price target on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. Finally, Wells Fargo & Company boosted their target price on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

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.