M.E. Allison & CO. Inc. Sells 41 Shares of McKesson Corporation $MCK

M.E. Allison & CO. Inc. decreased its holdings in McKesson Corporation (NYSE:MCK) by 8.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 422 shares of the company’s stock after selling 41 shares during the quarter. M.E. Allison & CO. Inc.’s holdings in McKesson were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Jackson Hole Trust raised its stake in McKesson by 64.3% in the first 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 period. CBIZ Investment Advisory Services LLC raised its stake in McKesson by 1,366.7% in the first 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 period. GFG Capital LLC bought a new stake in McKesson in the second quarter valued at approximately $30,000. Saudi Central Bank bought a new stake in McKesson in the first quarter valued at approximately $34,000. Finally, Flaharty Asset Management LLC bought a new stake in McKesson in the first quarter valued at approximately $39,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several research analyst reports. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. TD Cowen increased their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Citigroup increased their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Evercore ISI increased their target price on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Morgan Stanley increased their target price on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research note 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $829.08.

McKesson Price Performance

Shares of NYSE:MCK opened at $763.89 on Monday. The company has a market capitalization of $95.01 billion, a P/E ratio of 30.46, a P/E/G ratio of 1.38 and a beta of 0.52. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $776.14. The business’s 50 day simple moving average is $707.48 and its 200 day simple moving average is $706.67.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) 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 analyst estimates of $95.93 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 23.4% compared to the same quarter last year. During the same period in the prior year, the company earned $7.88 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.82 per share. 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 of this dividend was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer directly 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 can be found here. Insiders have sold 24,189 shares of company stock worth $16,722,190 in the last three months. 0.08% of the stock is currently owned by company insiders.

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.