Montag A & Associates Inc. Lowers Stock Holdings in McKesson Corporation $MCK

Montag A & Associates Inc. cut its position in McKesson Corporation (NYSE:MCK) by 1.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,661 shares of the company’s stock after selling 68 shares during the period. Montag A & Associates Inc.’s holdings in McKesson were worth $3,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new position in McKesson during the 1st quarter valued at about $475,235,000. Wellington Management Group LLP lifted its position in shares of McKesson by 4,559.6% during the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after purchasing an additional 418,524 shares in the last quarter. Boston Partners boosted its stake in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares during the period. Voya Investment Management LLC grew its holdings in shares of McKesson by 92.3% in the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock valued at $437,760,000 after purchasing an additional 312,473 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in McKesson by 68.0% during the 2nd quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock worth $466,441,000 after buying an additional 257,670 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MCK. Cowen reissued a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. TD Cowen increased their price objective on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. UBS Group lifted their target price on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, Morgan Stanley lifted their price objective on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $887.69.

McKesson Stock Performance

NYSE:MCK opened at $858.96 on Tuesday. McKesson Corporation has a 1 year low of $558.13 and a 1 year high of $867.63. The stock has a market cap of $106.84 billion, a P/E ratio of 34.25, a P/E/G ratio of 1.46 and a beta of 0.51. The stock has a 50-day simple moving average of $760.99 and a 200-day simple moving average of $725.68.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $7.07 EPS. On average, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 24,189 shares of company stock valued at $16,787,319. Company insiders own 0.08% of the company’s stock.

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.