McKesson Corporation $MCK Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its stake in McKesson Corporation (NYSE:MCK) by 99.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40 shares of the company’s stock after selling 5,051 shares during the period. Meeder Asset Management Inc.’s holdings in McKesson were worth $31,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MCK. Solstein Capital LLC raised its stake in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. State of Wyoming acquired a new position in shares of McKesson in the second quarter valued at about $29,000. GFG Capital LLC acquired a new position in shares of McKesson in the second quarter valued at about $30,000. Delos Wealth Advisors LLC purchased a new position in shares of McKesson in the second quarter worth about $35,000. Finally, Abound Wealth Management lifted its holdings in shares of McKesson by 104.3% during the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

MCK opened at $823.59 on Wednesday. The firm has a fifty day moving average price of $834.20 and a 200 day moving average price of $764.38. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58. The stock has a market cap of $101.66 billion, a P/E ratio of 25.63, a P/E/G ratio of 1.36 and a beta of 0.41.

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

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $0.82 dividend. 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 dividend payout ratio is presently 10.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MCK shares. Wells Fargo & Company increased their price target on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. TD Cowen increased their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Zacks Research downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Bank of America upped their price target on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $892.86.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred 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 owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.08% of the company’s stock.

McKesson Company Profile

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.