Cerity Partners LLC Cuts Stock Holdings in McKesson Corporation $MCK

Cerity Partners LLC reduced its position in McKesson Corporation (NYSE:MCK) by 1.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Solstein Capital LLC lifted its holdings in shares of McKesson by 171.4% during the 2nd 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 acquired a new stake in McKesson in the second quarter valued at approximately $29,000. GFG Capital LLC purchased a new stake in shares of McKesson during the second quarter valued at approximately $30,000. Delos Wealth Advisors LLC acquired a new position in shares of McKesson during the second quarter worth $35,000. Finally, Abound Wealth Management lifted its position in shares of McKesson by 104.3% during the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. Bank of America boosted their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Finally, Robert W. Baird lifted their price objective on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $892.86.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the firm’s stock in a transaction dated 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 directly owned 2,268 shares in the company, valued at $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 currently owned by corporate insiders.

McKesson Stock Performance

NYSE:MCK opened at $823.48 on Thursday. The company 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. McKesson Corporation has a one year low of $570.51 and a one year high of $895.58. The stock has a 50-day simple moving average of $834.64 and a 200 day simple moving average of $761.36.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter last year, the business posted $7.07 EPS. McKesson’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

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.