Bayforest Capital Ltd Reduces Stock Holdings in McKesson Corporation $MCK

Bayforest Capital Ltd reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 71.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 321 shares of the company’s stock after selling 789 shares during the quarter. Bayforest Capital Ltd’s holdings in McKesson were worth $248,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. CW Advisors LLC raised its stake in McKesson by 282.5% in the second 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 in the last quarter. Central Pacific Bank Trust Division boosted its position in McKesson by 54.4% during the 3rd 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 in the last quarter. Voya Investment Management LLC grew its holdings in shares of McKesson by 11.9% during the 3rd 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 raised its position in shares of McKesson by 19.0% in the 2nd 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 in the last quarter. Finally, Motco lifted its stake in shares of McKesson by 50,389.7% in the 3rd quarter. Motco now owns 14,642 shares of the company’s stock valued at $11,312,000 after purchasing an additional 14,613 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

MCK opened at $823.59 on Wednesday. The firm has a market cap of $101.66 billion, a PE ratio of 25.63, a P/E/G ratio of 1.36 and a beta of 0.41. The stock has a 50-day moving average price of $834.20 and a 200-day moving average price of $764.38. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $7.07 EPS. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently weighed in on MCK. TD Cowen upped their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Robert W. Baird boosted their target price on shares of McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley increased their price target on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Wells Fargo & Company lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. Two equities research 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $892.86.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 276 shares of the business’s 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 completion of the transaction, the executive vice president owned 2,268 shares in the company, valued at $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is owned by insiders.

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.