McKesson Corporation $MCK Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lessened its holdings in McKesson Corporation (NYSE:MCK) by 15.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,129 shares of the company’s stock after selling 16,904 shares during the quarter. Ensign Peak Advisors Inc owned 0.08% of McKesson worth $69,709,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Acadian Asset Management LLC lifted its position in McKesson by 22.0% during the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after acquiring an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of McKesson during the first quarter worth about $289,000. Archford Capital Strategies LLC boosted its position in McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after buying an additional 1,372 shares during the last quarter. Lynwood Price Capital Management LP increased its holdings in McKesson by 18.3% in the 2nd quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock worth $18,906,000 after buying an additional 4,000 shares during the period. Finally, LPL Financial LLC raised its position in McKesson by 12.8% during the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after buying an additional 17,750 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Mizuho upped their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Jefferies Financial Group upped their price target on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Wells Fargo & Company lifted their price objective on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Deutsche Bank Aktiengesellschaft upped their target price on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Robert W. Baird lifted their price target on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $887.69.

McKesson Stock Down 0.4%

NYSE:MCK opened at $849.25 on Friday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63. The stock has a market capitalization of $104.82 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The stock’s 50-day moving average price is $785.37 and its 200-day moving average price is $733.49.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter in the prior year, the firm posted $7.07 EPS. McKesson’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The shares were 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. The trade was a 50.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

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.