Csenge Advisory Group Sells 723 Shares of McKesson Corporation $MCK

Csenge Advisory Group decreased its position in shares of McKesson Corporation (NYSE:MCK) by 41.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,041 shares of the company’s stock after selling 723 shares during the quarter. Csenge Advisory Group’s holdings in McKesson were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Solstein Capital LLC raised its holdings in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. State of Wyoming bought a new stake in shares of McKesson during the second quarter worth about $29,000. GFG Capital LLC acquired a new stake in shares of McKesson in the 2nd quarter worth about $30,000. Delos Wealth Advisors LLC bought a new position in McKesson in the 2nd quarter valued at about $35,000. Finally, Abound Wealth Management boosted its stake in McKesson by 104.3% during 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 during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

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

McKesson Stock Down 0.5%

Shares of MCK stock opened at $840.29 on Monday. The firm has a market cap of $103.72 billion, a P/E ratio of 26.15, a PEG ratio of 1.38 and a beta of 0.41. The company has a 50 day moving average of $833.47 and a 200-day moving average of $766.87. McKesson Corporation has a 12-month low of $570.51 and a 12-month high of $895.58.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. The business 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%.McKesson’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $7.07 earnings per share. As a group, equities analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Barclays began coverage on McKesson in a research report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price target for the company. Robert W. Baird set a $968.00 price objective on shares of McKesson in a report on Wednesday. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 target price on shares of McKesson in a report on Thursday, November 6th. Finally, Morgan Stanley raised their price target on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report 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 given a Hold rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $895.79.

McKesson Company 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.