Brandes Investment Partners LP Sells 151,828 Shares of McKesson Corporation $MCK

Brandes Investment Partners LP cut its holdings in McKesson Corporation (NYSE:MCK) by 46.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,220 shares of the company’s stock after selling 151,828 shares during the period. Brandes Investment Partners LP owned approximately 0.14% of McKesson worth $129,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. Portfolio Design Labs LLC bought a new stake in McKesson in the second quarter worth approximately $4,571,000. OMERS ADMINISTRATION Corp increased its stake in shares of McKesson by 5.2% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 8,030 shares of the company’s stock valued at $5,884,000 after acquiring an additional 400 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of McKesson by 74.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 158,666 shares of the company’s stock valued at $116,267,000 after acquiring an additional 67,645 shares during the period. Virtus Advisers LLC boosted its stake in McKesson by 46.3% during the second quarter. Virtus Advisers LLC now owns 436 shares of the company’s stock worth $319,000 after acquiring an additional 138 shares in the last quarter. Finally, VestGen Advisors LLC grew its holdings in McKesson by 34.1% in the second quarter. VestGen Advisors LLC now owns 1,216 shares of the company’s stock worth $871,000 after purchasing an additional 309 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Down 2.8%

Shares of McKesson stock opened at $856.39 on Tuesday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $895.58. The business has a 50 day moving average price of $810.30 and a 200-day moving average price of $742.71. The company has a market cap of $105.70 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.07 earnings per share. As a group, research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 10.21%.

Analyst Ratings Changes

MCK has been the topic of several research reports. UBS Group upped their price objective on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Leerink Partners upped their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Robert W. Baird boosted their price objective on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, TD Cowen upped their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $887.69.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated 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 directly owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by insiders.

McKesson 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.