SG Americas Securities LLC Lowers Stock Position in McKesson Corporation $MCK

SG Americas Securities LLC reduced its position in shares of McKesson Corporation (NYSE:MCK) by 80.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,374 shares of the company’s stock after selling 26,261 shares during the period. SG Americas Securities LLC’s holdings in McKesson were worth $4,924,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. CW Advisors LLC boosted its stake in shares of McKesson by 282.5% in the 2nd quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock worth $8,067,000 after buying an additional 8,130 shares during the last quarter. Central Pacific Bank Trust Division increased its position in shares of McKesson by 54.4% during the third quarter. Central Pacific Bank Trust Division now owns 3,913 shares of the company’s stock valued at $3,023,000 after acquiring an additional 1,378 shares during the last quarter. Voya Investment Management LLC lifted its holdings in McKesson by 11.9% during the third quarter. Voya Investment Management LLC now owns 598,880 shares of the company’s stock worth $462,126,000 after acquiring an additional 63,621 shares during the period. Investment Management Corp of Ontario lifted its holdings in McKesson by 19.0% during the second quarter. Investment Management Corp of Ontario now owns 18,029 shares of the company’s stock worth $13,211,000 after acquiring an additional 2,881 shares during the period. Finally, Motco boosted its position in McKesson by 50,389.7% in the third quarter. Motco now owns 14,642 shares of the company’s stock worth $11,312,000 after purchasing an additional 14,613 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on MCK. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Mizuho upped their price objective on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Bank of America raised their target price on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a research note on Monday, December 22nd. Finally, Leerink Partners upped their price target on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Two investment 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $892.86.

McKesson Price Performance

Shares of MCK stock opened at $816.53 on Friday. The stock has a market capitalization of $100.78 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.34 and a beta of 0.41. The company’s fifty day simple moving average is $834.49 and its two-hundred day simple moving average is $762.67. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58.

McKesson (NYSE:MCK) last posted its quarterly 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. The firm 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 for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company earned $7.07 earnings per share. Equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued 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 of this dividend was Monday, December 1st. McKesson’s payout ratio is presently 10.21%.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 276 shares of the company’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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 completion of the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.08% of the company’s stock.

About McKesson

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.