McKesson Corporation $MCK Stock Position Lowered by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC lowered its position in shares of McKesson Corporation (NYSE:MCK) by 22.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,400 shares of the company’s stock after selling 400 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in McKesson were worth $1,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares in the last quarter. Cardinal Point Capital Management ULC lifted its stake in McKesson by 2.2% during the second quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after buying an additional 14 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in shares of McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after buying an additional 15 shares during the period. Cypress Wealth Services LLC increased its position in shares of McKesson by 3.7% in the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after acquiring an additional 15 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its holdings in shares of McKesson by 1.4% during the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after acquiring an additional 16 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other 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 transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Performance

NYSE:MCK opened at $850.77 on Friday. The company has a market capitalization of $105.82 billion, a P/E ratio of 33.92, a P/E/G ratio of 1.46 and a beta of 0.51. The stock’s 50 day moving average price is $757.54 and its 200 day moving average price is $724.05. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company’s revenue for the quarter 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. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MCK shares. TD Cowen raised 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. Zacks Research raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. lifted their price target on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. UBS Group raised their price objective on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 target price on shares of McKesson in a report on Thursday. One equities 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. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $880.15.

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.