Thrivent Financial for Lutherans Has $11.76 Million Stock Holdings in McKesson Corporation $MCK

Thrivent Financial for Lutherans trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 13.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,117 shares of the company’s stock after selling 2,487 shares during the period. Thrivent Financial for Lutherans’ holdings in McKesson were worth $11,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of MCK. Solstein Capital LLC lifted its holdings in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. State of Wyoming bought a new stake in McKesson in the 2nd quarter valued at $29,000. GFG Capital LLC acquired a new stake in McKesson in the 2nd quarter worth $30,000. Saudi Central Bank acquired a new position in shares of McKesson during the first quarter valued at about $34,000. Finally, Delos Wealth Advisors LLC bought a new stake in shares of McKesson in the second quarter valued at about $35,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $806.86 on Thursday. The company has a market cap of $99.59 billion, a price-to-earnings ratio of 25.11, a P/E/G ratio of 1.33 and a beta of 0.38. The stock’s fifty day moving average price is $824.06 and its two-hundred day moving average price is $750.38. McKesson Corporation has a 52-week low of $558.36 and a 52-week high of $895.58.

McKesson (NYSE:MCK) last released its 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 company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the prior year, the company posted $7.07 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MCK shares. Morgan Stanley lifted their price target on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Cowen reissued a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a research note on Monday. JPMorgan Chase & Co. upped their price objective on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Citigroup raised their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The stock was 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 $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.