Corient Private Wealth LLC Reduces Position in McKesson Corporation $MCK

Corient Private Wealth LLC trimmed its stake in McKesson Corporation (NYSE:MCK) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,941 shares of the company’s stock after selling 8,777 shares during the quarter. Corient Private Wealth LLC owned approximately 0.14% of McKesson worth $125,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its stake in McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC boosted its stake in shares of McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after purchasing an additional 14 shares during the last quarter. Cypress Wealth Services LLC grew its holdings in shares of McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after buying an additional 15 shares in the last quarter. HBK Sorce Advisory LLC raised its position in shares of McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after buying an additional 16 shares during the last quarter. Finally, Valmark Advisers Inc. lifted its stake in shares of McKesson by 2.1% during the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after buying an additional 17 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 directly owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

McKesson Trading Down 0.2%

Shares of McKesson stock opened at $814.16 on Monday. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $895.58. The stock has a market capitalization of $100.49 billion, a P/E ratio of 25.34, a PEG ratio of 1.34 and a beta of 0.38. The business’s fifty day moving average price is $820.19 and its 200 day moving average price is $748.57.

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

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors 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 yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Analyst Ratings Changes

Several analysts have commented on MCK shares. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. TD Cowen lifted their price objective on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Barclays started coverage on McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 target price on the stock. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Robert W. Baird upped their price objective on shares of McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.

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.