McKesson Corporation $MCK Shares Sold by Seed Wealth Management Inc.

Seed Wealth Management Inc. reduced its position in McKesson Corporation (NYSE:MCK) by 59.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603 shares of the company’s stock after selling 871 shares during the period. Seed Wealth Management Inc.’s holdings in McKesson were worth $466,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. CW Advisors LLC raised its position in McKesson by 282.5% in the second quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock valued at $8,067,000 after purchasing an additional 8,130 shares during the period. Investment Management Corp of Ontario raised its holdings in shares of McKesson by 19.0% during the 2nd quarter. Investment Management Corp of Ontario now owns 18,029 shares of the company’s stock valued at $13,211,000 after buying an additional 2,881 shares during the period. Central Pacific Bank Trust Division lifted its position in McKesson by 54.4% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,913 shares of the company’s stock worth $3,023,000 after acquiring an additional 1,378 shares in the last quarter. Voya Investment Management LLC lifted its position in McKesson by 11.9% during the 3rd quarter. Voya Investment Management LLC now owns 598,880 shares of the company’s stock worth $462,126,000 after acquiring an additional 63,621 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in McKesson by 5.7% in the 2nd quarter. Baird Financial Group Inc. now owns 38,219 shares of the company’s stock worth $28,006,000 after acquiring an additional 2,044 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Leerink Partners lifted their price target on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a report on Monday. Barclays initiated coverage on McKesson in a research note on Monday, December 8th. They set an “overweight” rating and a $960.00 target price for the company. Finally, Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $892.86.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Performance

MCK opened at $826.43 on Friday. The company has a market capitalization of $102.01 billion, a P/E ratio of 25.72, a PEG ratio of 1.36 and a beta of 0.38. The company has a 50-day moving average of $829.82 and a 200-day moving average of $754.60. McKesson Corporation has a 1-year low of $565.75 and a 1-year high of $895.58.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same period last year, the firm earned $7.07 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is 10.21%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.