Cerro Pacific Wealth Advisors LLC Has $676,000 Stock Holdings in McKesson Corporation $MCK

Cerro Pacific Wealth Advisors LLC lowered its stake in McKesson Corporation (NYSE:MCK) by 4.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 923 shares of the company’s stock after selling 43 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in McKesson were worth $676,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Bank of Jackson Hole Trust grew its stake in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its stake in McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. GFG Capital LLC acquired a new position in McKesson in the 2nd quarter valued at about $30,000. Saudi Central Bank acquired a new position in McKesson in the 1st quarter valued at about $34,000. Finally, Flaharty Asset Management LLC acquired a new position in McKesson in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCK. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Bank of America raised their target price on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Evercore ISI raised their target price on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Wells Fargo & Company raised their target price on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Finally, Cowen reaffirmed a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. One equities research 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 stock has an average rating of “Moderate Buy” and a consensus target price of $829.08.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were 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 of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock worth $16,722,190 in the last 90 days. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.8%

NYSE MCK opened at $763.89 on Friday. The firm has a market capitalization of $95.01 billion, a price-to-earnings ratio of 30.46, a P/E/G ratio of 1.38 and a beta of 0.52. The firm’s 50 day simple moving average is $707.48 and its 200 day simple moving average is $706.39. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $776.14.

McKesson (NYSE:MCK) last issued its earnings results 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). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the prior year, the business earned $7.88 EPS. The business’s quarterly revenue was up 23.4% on a year-over-year basis. On average, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.82 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is 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.