Whipplewood Advisors LLC Sells 408 Shares of McKesson Corporation $MCK

Whipplewood Advisors LLC reduced its position in McKesson Corporation (NYSE:MCK) by 50.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 399 shares of the company’s stock after selling 408 shares during the period. Whipplewood Advisors LLC’s holdings in McKesson were worth $292,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of McKesson by 33.1% in the second quarter. Brighton Jones LLC now owns 3,265 shares of the company’s stock valued at $2,393,000 after buying an additional 812 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its holdings in shares of McKesson by 70.2% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 1,978 shares of the company’s stock worth $1,449,000 after acquiring an additional 816 shares during the last quarter. Sage Mountain Advisors LLC raised its stake in McKesson by 11.3% in the 2nd quarter. Sage Mountain Advisors LLC now owns 1,384 shares of the company’s stock valued at $1,014,000 after acquiring an additional 141 shares during the period. DDD Partners LLC bought a new position in McKesson during the second quarter worth $213,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of McKesson by 0.4% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 315,284 shares of the company’s stock valued at $231,034,000 after purchasing an additional 1,364 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 1.2%

MCK opened at $802.17 on Friday. The stock has a market capitalization of $99.77 billion, a price-to-earnings ratio of 31.98, a P/E/G ratio of 1.44 and a beta of 0.52. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $807.75. The company has a 50-day simple moving average of $728.97 and a 200 day simple moving average of $714.24.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the prior year, the business earned $7.88 earnings per share. McKesson’s quarterly revenue was up 23.4% compared to the same quarter last year. Sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.82 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio is currently 13.08%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. Jefferies Financial Group upped their target price on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Evercore ISI lifted their price target on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Finally, UBS Group boosted their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $834.54.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock valued at $16,722,190 over the last quarter. 0.08% of the stock is owned by corporate insiders.

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.