ZWJ Investment Counsel Inc. Sells 90 Shares of McKesson Corporation $MCK

ZWJ Investment Counsel Inc. decreased its position in McKesson Corporation (NYSE:MCK) by 11.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 710 shares of the company’s stock after selling 90 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in McKesson were worth $520,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MCK. Nuveen LLC bought a new position in shares of McKesson in the first quarter worth about $475,235,000. Wellington Management Group LLP raised its stake in shares of McKesson by 4,559.6% in the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after buying an additional 418,524 shares during the period. Boston Partners raised its stake in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after buying an additional 365,484 shares during the period. Voya Investment Management LLC raised its stake in shares of McKesson by 92.3% in the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after buying an additional 312,473 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in shares of McKesson in the first quarter worth about $140,742,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MCK shares. Mizuho raised their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Evercore ISI raised their price objective on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. UBS Group lifted their target price on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. TD Cowen lifted their target price on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Cowen reissued a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $829.08.

McKesson Trading Down 2.7%

Shares of MCK opened at $738.00 on Friday. The business’s 50 day moving average is $702.60 and its 200 day moving average is $702.96. The company has a market capitalization of $91.80 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.36 and a beta of 0.52. McKesson Corporation has a 12-month low of $480.39 and a 12-month high of $776.14.

McKesson (NYSE:MCK) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.88 EPS. Equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is 13.08%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. This trade represents a 41.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 transaction, the chief accounting officer 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 have sold a total of 43,560 shares of company stock valued at $30,438,602 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

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.