Phoenix Financial Ltd. Reduces Stock Holdings in McKesson Corporation $MCK

Phoenix Financial Ltd. lessened its position in shares of McKesson Corporation (NYSE:MCK) by 32.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,320 shares of the company’s stock after selling 5,418 shares during the period. Phoenix Financial Ltd.’s holdings in McKesson were worth $8,752,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CW Advisors LLC raised its position in McKesson by 282.5% during the second quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock worth $8,067,000 after acquiring an additional 8,130 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of McKesson by 11.9% during the 3rd quarter. Voya Investment Management LLC now owns 598,880 shares of the company’s stock worth $462,126,000 after purchasing an additional 63,621 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of McKesson by 54.4% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,913 shares of the company’s stock worth $3,023,000 after purchasing an additional 1,378 shares during the last quarter. Motco lifted its stake in McKesson by 50,389.7% in the 3rd quarter. Motco now owns 14,642 shares of the company’s stock valued at $11,312,000 after buying an additional 14,613 shares in the last quarter. Finally, Generate Investment Management Ltd lifted its stake in McKesson by 138.4% in the 3rd quarter. Generate Investment Management Ltd now owns 20,267 shares of the company’s stock valued at $15,657,000 after buying an additional 11,765 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MCK. Robert W. Baird set a $968.00 price target on McKesson in a research report on Wednesday, January 14th. UBS Group increased their price objective on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a research report on Monday, December 29th. Jefferies Financial Group upped their target price on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Wells Fargo & Company raised their price target on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $895.79.

McKesson Trading Up 0.6%

McKesson stock opened at $825.32 on Tuesday. The stock has a fifty day moving average price of $830.45 and a 200 day moving average price of $771.16. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58. The firm has a market capitalization of $101.87 billion, a P/E ratio of 25.69, a PEG ratio of 1.35 and a beta of 0.41.

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

McKesson Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is 10.21%.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.08% of the company’s stock.

McKesson 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.