Cerity Partners LLC Cuts Stock Position in McKesson Corporation $MCK

Cerity Partners LLC trimmed its position in McKesson Corporation (NYSE:MCK) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,955 shares of the company’s stock after selling 819 shares during the period. Cerity Partners LLC’s holdings in McKesson were worth $44,000,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Solstein Capital LLC boosted its holdings in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares in the last quarter. State of Wyoming purchased a new position in McKesson during the second quarter worth about $29,000. GFG Capital LLC acquired a new stake in McKesson in the second quarter valued at about $30,000. Delos Wealth Advisors LLC purchased a new stake in McKesson in the 2nd quarter valued at approximately $35,000. Finally, Abound Wealth Management boosted its holdings in McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

McKesson stock opened at $823.48 on Thursday. McKesson Corporation has a fifty-two week low of $570.51 and a fifty-two week high of $895.58. The firm has a market capitalization of $101.64 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 1.36 and a beta of 0.41. The stock’s fifty day moving average is $834.64 and its two-hundred day moving average is $761.36.

McKesson (NYSE:MCK) last released 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 248.14% and a net margin of 1.04%.The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.07 EPS. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were given a $0.82 dividend. The ex-dividend date was 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%.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MCK shares. Jefferies Financial Group increased their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a research report on Monday, December 29th. Morgan Stanley raised their target price on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Monday, December 22nd. Finally, Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $892.86.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.