McKesson Corporation $MCK Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC cut its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 45.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,551 shares of the company's stock after selling 1,294 shares during the quarter. Beverly Hills Private Wealth LLC's holdings in McKesson were worth $1,137,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCK. Brighton Jones LLC increased its position in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. GAMMA Investing LLC increased its position in shares of McKesson by 12.5% in the 1st quarter. GAMMA Investing LLC now owns 3,556 shares of the company's stock valued at $2,393,000 after purchasing an additional 396 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of McKesson in the 1st quarter valued at approximately $206,000. Heartland Bank & Trust Co increased its position in shares of McKesson by 18.0% in the 1st quarter. Heartland Bank & Trust Co now owns 1,010 shares of the company's stock valued at $680,000 after purchasing an additional 154 shares during the last quarter. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of McKesson in the 1st quarter valued at approximately $220,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on 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 sale, the chief executive officer owned 4,012 shares of the company's stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Morgan Stanley increased their price objective on shares of McKesson from $810.00 to $857.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. Jefferies Financial Group increased their target price 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of McKesson from $775.00 to $856.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Finally, Evercore ISI increased their target price on shares of McKesson from $800.00 to $825.00 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, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $834.54.

McKesson Price Performance

Shares of NYSE:MCK opened at $788.27 on Monday. The stock has a market cap of $98.05 billion, a P/E ratio of 31.43, a P/E/G ratio of 1.42 and a beta of 0.52. The firm has a fifty day moving average price of $716.48 and a 200 day moving average price of $710.02. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $793.97.

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

McKesson Increases Dividend

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

McKesson Company Profile

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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