McKesson Corporation $MCK Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. decreased its stake in shares of McKesson Corporation (NYSE:MCK) by 20.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,616 shares of the company’s stock after selling 415 shares during the period. Howe & Rusling Inc.’s holdings in McKesson were worth $1,088,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. Capital A Wealth Management LLC acquired a new position in McKesson during the fourth quarter worth approximately $26,000. Bank of Jackson Hole Trust increased its position in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Saudi Central Bank acquired a new position in McKesson during the first quarter worth approximately $34,000. Finally, Flaharty Asset Management LLC purchased a new stake in McKesson during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, 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 directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. This trade represents 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 quarter. 0.08% of the stock is currently owned by insiders.

McKesson Trading Up 1.8%

Shares of MCK stock opened at $718.72 on Friday. The company has a market capitalization of $89.39 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The firm has a fifty day simple moving average of $697.97 and a 200-day simple moving average of $693.40. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 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 23.4% compared to the same quarter last year. During the same quarter last year, the company posted $7.88 earnings per share. Equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. McKesson’s payout ratio is currently 13.08%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCK. Wall Street Zen downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 13th. Wells Fargo & Company boosted their price objective on shares of McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 13th. Morgan Stanley reiterated an “overweight” rating and set a $810.00 price objective (up from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Cowen reiterated a “buy” rating on shares of McKesson in a research note on Thursday, August 7th. Finally, Evercore ISI boosted their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $725.10.

About McKesson

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.