Corient Private Wealth LLC Decreases Position in McKesson Corporation $MCK

Corient Private Wealth LLC lowered 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 SEC. The institutional investor owned 171,941 shares of the company’s stock after selling 8,777 shares during the quarter. Corient Private Wealth LLC’s holdings in McKesson were worth $125,995,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Vanguard Group Inc. grew its position in McKesson by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after acquiring an additional 232,286 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of McKesson by 4.1% in the second quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock valued at $2,057,065,000 after purchasing an additional 112,224 shares during the period. Alliancebernstein L.P. boosted its stake in shares of McKesson by 150.4% in the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after purchasing an additional 1,362,386 shares during the period. Norges Bank acquired a new stake in McKesson during the 2nd quarter valued at $1,346,661,000. Finally, Northern Trust Corp increased its stake in McKesson by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after buying an additional 10,179 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Down 0.2%

Shares of NYSE MCK opened at $814.16 on Monday. The stock’s 50 day moving average price is $820.19 and its two-hundred day moving average price is $748.57. McKesson Corporation has a 52-week low of $558.13 and a 52-week 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.

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 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 business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $7.07 EPS. On average, analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Morgan Stanley increased their price target on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. raised 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. Barclays started coverage on McKesson in a research report on Monday, December 8th. They issued an “overweight” rating and a $960.00 target price on the stock. Finally, Evercore ISI reissued an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.

McKesson Company 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.