Fox Run Management L.L.C. Sells 997 Shares of McKesson Corporation $MCK

Fox Run Management L.L.C. decreased its position in McKesson Corporation (NYSE:MCK) by 45.3% during the second quarter, Holdings Channel.com reports. The fund owned 1,206 shares of the company’s stock after selling 997 shares during the quarter. Fox Run Management L.L.C.’s holdings in McKesson were worth $884,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MCK. MassMutual Private Wealth & Trust FSB raised its position in McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC raised its holdings in shares of McKesson by 2.2% during the second quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after acquiring an additional 14 shares in the last quarter. Cypress Wealth Services LLC raised its holdings in shares of McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after acquiring an additional 15 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock worth $866,000 after acquiring an additional 16 shares during the period. Finally, Valmark Advisers Inc. boosted its holdings in McKesson by 2.1% in the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after acquiring an additional 17 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MCK shares. UBS Group raised their target price on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen lifted their price objective on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Morgan Stanley raised their target price on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Bank of America upped their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $880.15.

Insider Activity

In other 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 transaction of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Down 0.9%

MCK stock opened at $850.77 on Monday. The business has a 50 day moving average of $757.54 and a 200 day moving average of $724.48. The firm has a market cap of $105.82 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $867.63.

McKesson (NYSE:MCK) last released its 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. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $7.07 earnings per share. On average, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

About McKesson

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.