McKesson Corporation $MCK Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,820 shares of the company’s stock after selling 1,071 shares during the quarter. Yousif Capital Management LLC’s holdings in McKesson were worth $14,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Farther Finance Advisors LLC boosted its stake in shares of McKesson by 25.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,512 shares of the company’s stock worth $2,713,000 after acquiring an additional 709 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its holdings in McKesson by 7.3% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 589 shares of the company’s stock worth $455,000 after purchasing an additional 40 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in McKesson by 20.3% during the third quarter. HBK Sorce Advisory LLC now owns 1,422 shares of the company’s stock worth $1,075,000 after purchasing an additional 240 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in McKesson by 58.5% during the third quarter. Exchange Traded Concepts LLC now owns 3,856 shares of the company’s stock worth $2,979,000 after purchasing an additional 1,423 shares in the last quarter. Finally, Abner Herrman & Brock LLC acquired a new stake in McKesson in the third quarter valued at $279,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCK. TD Cowen lifted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. raised their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Barclays started coverage on shares of McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 target price for the company. Leerink Partners increased their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Finally, Robert W. Baird raised their price objective on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $892.86.

McKesson Trading Down 0.2%

NYSE:MCK opened at $818.56 on Tuesday. McKesson Corporation has a 12-month low of $565.75 and a 12-month high of $895.58. The firm has a market cap of $101.04 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38. The company’s 50-day moving average is $827.23 and its two-hundred day moving average is $752.79.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.07 earnings per share. On average, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.