Clifford Swan Investment Counsel LLC Reduces Position in McKesson Corporation $MCK

Clifford Swan Investment Counsel LLC reduced its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,938 shares of the company's stock after selling 2,303 shares during the quarter. McKesson comprises 1.0% of Clifford Swan Investment Counsel LLC's investment portfolio, making the stock its 28th biggest position. Clifford Swan Investment Counsel LLC's holdings in McKesson were worth $28,533,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bank of Jackson Hole Trust grew its holdings in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after acquiring an additional 41 shares during the period. GFG Capital LLC purchased a new position in McKesson during the second quarter valued at approximately $30,000. Saudi Central Bank bought a new stake in McKesson during the 1st quarter worth approximately $34,000. Finally, Flaharty Asset Management LLC purchased a new stake in McKesson in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

MCK opened at $795.93 on Thursday. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $797.27. The stock's 50 day simple moving average is $724.00 and its 200 day simple moving average is $711.88. The firm has a market cap of $99.00 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.42 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business's revenue was up 23.4% on a year-over-year basis. During the same period last year, the company posted $7.88 earnings per share. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.82 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio is 13.08%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group boosted their price target on shares of McKesson from $820.00 to $900.00 and gave the company a "buy" rating in a research report on Monday, October 13th. UBS Group lifted their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Evercore ISI increased their target price on McKesson from $800.00 to $825.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Citigroup raised their price target on McKesson from $820.00 to $860.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on McKesson from $775.00 to $856.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $834.54.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson 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 sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock worth $16,722,190 over the last three months. 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.

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