Northwest & Ethical Investments L.P. Sells 5,178 Shares of McKesson Corporation $MCK

Northwest & Ethical Investments L.P. trimmed its position in McKesson Corporation (NYSE:MCK) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,876 shares of the company’s stock after selling 5,178 shares during the quarter. McKesson accounts for 0.8% of Northwest & Ethical Investments L.P.’s holdings, making the stock its 26th largest holding. Northwest & Ethical Investments L.P.’s holdings in McKesson were worth $30,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MCK. Vanguard Group Inc. grew its holdings in shares of McKesson by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after purchasing an additional 232,286 shares during the last quarter. Geode Capital Management LLC grew its position in McKesson by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock worth $2,057,065,000 after acquiring an additional 112,224 shares during the last quarter. Northern Trust Corp increased its holdings in McKesson by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after purchasing an additional 10,179 shares in the last quarter. Boston Partners boosted its stake in shares of McKesson by 33.3% during the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of McKesson by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after purchasing an additional 107,638 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 2.3%

Shares of McKesson stock opened at $890.30 on Wednesday. The firm has a market capitalization of $109.89 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The business’s 50-day moving average price is $795.76 and its 200-day moving average price is $737.48. McKesson Corporation has a 12 month low of $558.13 and a 12 month high of $891.60.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 firm had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. During the same period last year, the company earned $7.07 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is presently 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 that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings raised shares of McKesson from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft raised 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. Morgan Stanley increased their price target on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Finally, Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.