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

Brandes Investment Partners LP lessened its holdings in McKesson Corporation (NYSE:MCK) by 46.1% in the second quarter, Holdings Channel reports. The firm owned 177,220 shares of the company’s stock after selling 151,828 shares during the period. Brandes Investment Partners LP’s holdings in McKesson were worth $129,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. TD Cowen boosted their target price on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. UBS Group upped their price target on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. boosted their price objective on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $887.69.

McKesson Stock Performance

Shares of NYSE MCK opened at $856.39 on Tuesday. McKesson Corporation has a fifty-two week low of $558.13 and a fifty-two week high of $895.58. The stock 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. The stock has a fifty day moving average of $810.30 and a 200-day moving average of $742.71.

McKesson (NYSE:MCK) last issued its 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 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%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $7.07 EPS. On average, sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s 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 sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

About McKesson

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.