Transatlantique Private Wealth LLC Trims Stake in McKesson Corporation $MCK

Transatlantique Private Wealth LLC decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 2.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,242 shares of the company’s stock after selling 66 shares during the period. McKesson accounts for 0.9% of Transatlantique Private Wealth LLC’s portfolio, making the stock its 28th largest position. Transatlantique Private Wealth LLC’s holdings in McKesson were worth $2,376,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MCK. Brighton Jones LLC lifted its holdings in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of McKesson by 1.7% during the first quarter. OneDigital Investment Advisors LLC now owns 2,391 shares of the company’s stock valued at $1,609,000 after purchasing an additional 40 shares during the last quarter. Burling Wealth Partners LLC purchased a new position in shares of McKesson during the first quarter valued at approximately $202,000. Capital Investment Advisory Services LLC purchased a new position in shares of McKesson during the first quarter valued at approximately $221,000. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of McKesson by 5.9% during the first quarter. Concurrent Investment Advisors LLC now owns 1,776 shares of the company’s stock valued at $1,195,000 after purchasing an additional 99 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Up 1.1%

Shares of MCK stock opened at $820.42 on Tuesday. McKesson Corporation has a 12-month low of $520.20 and a 12-month high of $846.32. The firm’s 50 day moving average is $744.21 and its 200 day moving average is $720.04. The stock has a market capitalization of $102.05 billion, a P/E ratio of 32.71, a P/E/G ratio of 1.46 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. During the same quarter in the prior year, the business posted $7.88 EPS. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm 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 is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the 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 transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the 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 completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,189 shares of company stock worth $16,722,190 over the last quarter. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Bank of America increased their price target on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. UBS Group increased their price target on shares of McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a report on Monday, October 27th. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, Mizuho increased their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $839.15.

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.