McKesson Corporation $MCK Shares Sold by Leuthold Group LLC

Leuthold Group LLC reduced its position in shares of McKesson Corporation (NYSE:MCK) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,453 shares of the company’s stock after selling 287 shares during the period. McKesson comprises about 1.4% of Leuthold Group LLC’s holdings, making the stock its 13th largest holding. Leuthold Group LLC’s holdings in McKesson were worth $11,324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC grew its stake in shares of McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after purchasing an additional 68,294 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of McKesson by 8,018.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,177 shares of the company’s stock worth $9,823,000 after purchasing an additional 12,027 shares during the last quarter. KG&L Capital Management LLC lifted its holdings in shares of McKesson by 114.8% during the second quarter. KG&L Capital Management LLC now owns 698 shares of the company’s stock worth $511,000 after purchasing an additional 373 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in McKesson in the 1st quarter valued at $289,000. Finally, Archford Capital Strategies LLC increased its stake in McKesson by 151.8% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after buying an additional 1,372 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MCK shares. 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 research note on Wednesday, September 24th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley raised their price objective on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a report on Tuesday. Finally, Jefferies Financial Group boosted their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $887.69.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

McKesson Trading Down 0.5%

Shares of MCK opened at $879.00 on Friday. The firm’s 50-day moving average is $807.11 and its two-hundred day moving average is $741.23. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $895.58. The firm has a market capitalization of $108.49 billion, a P/E ratio of 35.05, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm 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 business posted $7.07 EPS. McKesson’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm 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 dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 10.21%.

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.