Moody Aldrich Partners LLC Trims Stock Position in McKesson Corporation $MCK

Moody Aldrich Partners LLC decreased its position in McKesson Corporation (NYSE:MCK) by 33.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 301 shares of the company’s stock after selling 154 shares during the period. Moody Aldrich Partners LLC’s holdings in McKesson were worth $221,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

MCK has been the topic of several research analyst reports. Jefferies Financial Group boosted their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. TD Cowen upped their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Evercore ISI upped their price target on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Zacks Research raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $839.15.

Insider Activity

In related news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction 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 trade represents a 33.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,189 shares of company stock valued at $16,722,190 in the last quarter. Company insiders own 0.08% of the company’s stock.

McKesson Stock Down 1.6%

McKesson stock opened at $811.96 on Friday. McKesson Corporation has a 52-week low of $498.32 and a 52-week high of $846.32. The firm has a market cap of $100.99 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52. The company’s 50 day moving average is $741.39 and its two-hundred day moving average is $718.80.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion for 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 firm’s revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.88 EPS. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

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.