McKesson Corporation $MCK Shares Sold by Tilia Fiduciary Partners Inc.

Tilia Fiduciary Partners Inc. cut its holdings in McKesson Corporation (NYSE:MCK) by 0.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,307 shares of the company’s stock after selling 17 shares during the period. McKesson makes up 2.4% of Tilia Fiduciary Partners Inc.’s investment portfolio, making the stock its 7th largest position. Tilia Fiduciary Partners Inc.’s holdings in McKesson were worth $3,889,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of MCK. Brighton Jones LLC raised its holdings in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the last quarter. Apella Capital LLC acquired a new position in McKesson in the 1st quarter valued at $205,000. Chesley Taft & Associates LLC raised its holdings in McKesson by 24.4% in the 1st quarter. Chesley Taft & Associates LLC now owns 805 shares of the company’s stock valued at $542,000 after acquiring an additional 158 shares during the last quarter. Breakwater Capital Group raised its holdings in McKesson by 8.3% in the 1st quarter. Breakwater Capital Group now owns 469 shares of the company’s stock valued at $316,000 after acquiring an additional 36 shares during the last quarter. Finally, Vest Financial LLC purchased a new stake in shares of McKesson during the 1st quarter valued at $10,384,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by corporate insiders.

McKesson Trading Down 2.7%

Shares of McKesson stock opened at $738.00 on Friday. The company has a fifty day moving average price of $702.60 and a 200 day moving average price of $702.96. McKesson Corporation has a twelve month low of $480.39 and a twelve month high of $776.14. The stock has a market cap of $91.80 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 1.36 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly 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 negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. During the same period last year, the company posted $7.88 earnings per share. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. Analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm 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 a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 13.08%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCK. Evercore ISI boosted their price objective on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Leerink Partners boosted their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Citigroup boosted their price objective on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Bank of America boosted their price objective on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, TD Cowen boosted their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $829.08.

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.