McKesson Corporation $MCK Stock Position Trimmed by Machina Capital S.A.S.

Machina Capital S.A.S. trimmed its stake in shares of McKesson Corporation (NYSE:MCK) by 75.1% during the second quarter, Holdings Channel reports. The institutional investor owned 946 shares of the company’s stock after selling 2,846 shares during the period. Machina Capital S.A.S.’s holdings in McKesson were worth $693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Solstein Capital LLC raised its position in shares of McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Bank of Jackson Hole Trust raised its position in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after buying an additional 41 shares in the last quarter. GFG Capital LLC bought a new stake in shares of McKesson during the 2nd quarter worth about $30,000. Finally, Saudi Central Bank bought a new stake in shares of McKesson during the 1st quarter worth about $34,000. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MCK. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Jefferies Financial Group boosted their price target on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. TD Cowen lifted their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $839.15.

McKesson Price Performance

Shares of MCK opened at $820.42 on Tuesday. The firm’s 50 day moving average is $744.21 and its 200-day moving average is $720.04. The stock has a market capitalization of $102.05 billion, a P/E ratio of 32.71, a P/E/G ratio of 1.46 and a beta of 0.52. McKesson Corporation has a 12-month low of $520.20 and a 12-month high of $846.32.

McKesson (NYSE:MCK) last released 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 negative return on equity of 196.66% and a net margin of 0.84%.The business’s revenue was up 23.4% on a year-over-year basis. During the same period last year, the business earned $7.88 earnings per share. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 13.08%.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is currently owned by 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.