McKesson Corporation $MCK Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in McKesson Corporation (NYSE:MCK) by 4.8% during the 3rd quarter, Holdings Channel reports. The fund owned 43,877 shares of the company’s stock after selling 2,190 shares during the quarter. Nisa Investment Advisors LLC’s holdings in McKesson were worth $33,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IAM Advisory LLC increased its stake in shares of McKesson by 0.3% during the third quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock worth $3,019,000 after buying an additional 13 shares during the period. PDS Planning Inc increased its holdings in shares of McKesson by 1.1% in the 3rd quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock valued at $934,000 after acquiring an additional 13 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of McKesson by 1.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC increased its position 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 worth $473,000 after purchasing an additional 14 shares in the last quarter. Finally, Goldstein Advisors LLC increased its stake in McKesson by 4.4% in the third quarter. Goldstein Advisors LLC now owns 334 shares of the company’s stock valued at $258,000 after purchasing an additional 14 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Robert W. Baird raised their price objective on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Evercore ISI restated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a research note on Thursday, November 6th. Zacks Research lowered McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of McKesson in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $892.86.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their position. The SEC filing for this sale provides additional information. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Down 1.2%

Shares of NYSE MCK opened at $814.44 on Friday. McKesson Corporation has a 52-week low of $570.51 and a 52-week high of $895.58. The stock’s fifty day simple moving average is $834.40 and its 200 day simple moving average is $761.73. The stock has a market capitalization of $100.52 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.35 and a beta of 0.41.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is presently 10.21%.

About McKesson

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.