Atlas Capital Advisors LLC Sells 509 Shares of McKesson Co. (NYSE:MCK)

Atlas Capital Advisors LLC trimmed its stake in McKesson Co. (NYSE:MCK) by 8.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,249 shares of the company’s stock after selling 509 shares during the quarter. Atlas Capital Advisors LLC’s holdings in McKesson were worth $3,066,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MCK. Mather Group LLC. increased its holdings in McKesson by 5.5% during the fourth quarter. Mather Group LLC. now owns 673 shares of the company’s stock worth $312,000 after buying an additional 35 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its stake in shares of McKesson by 4.8% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 652 shares of the company’s stock worth $302,000 after purchasing an additional 30 shares during the last quarter. Choreo LLC raised its holdings in shares of McKesson by 152.3% in the 4th quarter. Choreo LLC now owns 3,507 shares of the company’s stock valued at $1,626,000 after purchasing an additional 2,117 shares during the period. Naviter Wealth LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $276,000. Finally, Intrust Bank NA acquired a new stake in McKesson in the 4th quarter valued at about $206,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares in the company, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Insiders sold 12,342 shares of company stock valued at $7,319,742 over the last quarter. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of McKesson stock traded up $5.63 during trading on Friday, reaching $561.08. 953,797 shares of the company’s stock were exchanged, compared to its average volume of 740,009. McKesson Co. has a 1-year low of $404.72 and a 1-year high of $637.51. The company has a market cap of $72.90 billion, a P/E ratio of 25.07, a PEG ratio of 1.46 and a beta of 0.45. The firm’s 50-day moving average price is $580.87 and its 200 day moving average price is $555.49.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.27 earnings per share. As a group, equities research analysts predict that McKesson Co. will post 31.68 EPS for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI dropped their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Wells Fargo & Company upped their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Finally, Barclays raised their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $620.29.

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.