Haverford Financial Services Inc. Has $9.30 Million Stock Position in McKesson Corporation $MCK

Haverford Financial Services Inc. cut its holdings in McKesson Corporation (NYSE:MCK) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,686 shares of the company’s stock after selling 1,009 shares during the quarter. McKesson accounts for 2.8% of Haverford Financial Services Inc.’s investment portfolio, making the stock its 16th largest holding. Haverford Financial Services Inc.’s holdings in McKesson were worth $9,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Solstein Capital LLC lifted 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 valued at $28,000 after acquiring an additional 24 shares during the period. Bank of Jackson Hole Trust grew its holdings in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares during the period. GFG Capital LLC bought a new stake in McKesson in the second quarter valued at $30,000. Saudi Central Bank acquired a new position in shares of McKesson during the first quarter valued at about $34,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of McKesson during the first quarter valued at about $39,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 directly owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the business’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 transaction, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCK. Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Cowen reissued a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Mizuho upped their target price on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Robert W. Baird increased their target price on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, TD Cowen boosted their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $887.69.

McKesson Stock Up 0.7%

McKesson stock opened at $861.33 on Wednesday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63. The company’s 50 day moving average price is $779.78 and its two-hundred day moving average price is $731.82. The stock has a market cap of $106.31 billion, a P/E ratio of 34.34, a P/E/G ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $7.07 earnings per share. On average, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm 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 dividend of $0.82 per share. 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 dividend payout ratio (DPR) is currently 10.21%.

McKesson 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.