Greenleaf Trust Has $5.16 Million Stock Position in McKesson Corporation $MCK

Key Points

• Greenleaf Trust reduced its stake in McKesson Corporation by 8.8%, holding 7,044 shares worth $5.16 million after selling 681 shares in the second quarter.
• Several large institutional investors increased their positions in McKesson, with Archford Capital Strategies boosting its stake by 151.8% during the same period.
• McKesson recently announced an increase in its quarterly dividend to $0.82 per share, up from the previous $0.71, reflecting an annualized dividend yield of 0.4%.

Greenleaf Trust cut its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,044 shares of the company's stock after selling 681 shares during the period. Greenleaf Trust's holdings in McKesson were worth $5,162,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. XML Financial LLC lifted its position in McKesson by 88.2% during the 2nd quarter. XML Financial LLC now owns 623 shares of the company's stock worth $457,000 after buying an additional 292 shares in the last quarter. Poinciana Advisors Group LLC increased its position in McKesson by 6.0% in the 2nd quarter. Poinciana Advisors Group LLC now owns 317 shares of the company's stock valued at $232,000 after acquiring an additional 18 shares in the last quarter. Capital Investment Advisors LLC raised its stake in shares of McKesson by 31.2% in the second quarter. Capital Investment Advisors LLC now owns 3,506 shares of the company's stock worth $2,569,000 after acquiring an additional 834 shares during the last quarter. Archford Capital Strategies LLC grew its stake in shares of McKesson by 151.8% during the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company's stock valued at $1,668,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its holdings in shares of McKesson by 21.0% in the second quarter. Moss Adams Wealth Advisors LLC now owns 398 shares of the company's stock valued at $292,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. increased their price target on shares of McKesson from $821.00 to $853.00 and gave the company an "overweight" rating in a research report on Friday. TD Cowen lifted their target price on McKesson from $830.00 to $864.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Bank of America raised their price objective on shares of McKesson from $800.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, Leerink Partners raised their target price on shares of McKesson from $785.00 to $850.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus price target of $829.08.

McKesson Stock Up 0.2%

Shares of MCK opened at $762.22 on Tuesday. McKesson Corporation has a 52 week low of $480.39 and a 52 week high of $770.00. The stock has a market cap of $94.80 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 1.36 and a beta of 0.51. The business has a 50-day simple moving average of $698.81 and a two-hundred day simple moving average of $700.77.

McKesson (NYSE:MCK - Get Free Report) last announced 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). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion during the quarter, compared to analysts' expectations of $95.93 billion. During the same quarter in the previous year, the firm earned $7.88 earnings per share. McKesson's revenue was up 23.4% on a year-over-year basis. On average, equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. This is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson's dividend payout ratio (DPR) is 13.08%.

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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