Federated Hermes Inc. Lowers Stock Holdings in McKesson Corporation $MCK

Federated Hermes Inc. reduced its position in McKesson Corporation (NYSE:MCK) by 5.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 26,674 shares of the company’s stock after selling 1,540 shares during the quarter. Federated Hermes Inc.’s holdings in McKesson were worth $20,607,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CW Advisors LLC raised its stake in shares of McKesson by 282.5% in the second quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock valued at $8,067,000 after purchasing an additional 8,130 shares in the last quarter. Voya Investment Management LLC increased its position 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 purchasing an additional 63,621 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings 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 worth $3,023,000 after buying an additional 1,378 shares in the last quarter. Motco grew its position in McKesson by 50,389.7% during the 3rd quarter. Motco now owns 14,642 shares of the company’s stock worth $11,312,000 after acquiring an additional 14,613 shares during the last quarter. Finally, Generate Investment Management Ltd increased its stake in shares of McKesson by 138.4% in the third quarter. Generate Investment Management Ltd now owns 20,267 shares of the company’s stock valued at $15,657,000 after buying an additional 11,765 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value 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 trade represents a 50.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of the company’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 sale, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

NYSE:MCK opened at $831.32 on Friday. The company has a market cap of $102.61 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.35 and a beta of 0.41. The firm’s fifty day moving average price is $828.09 and its two-hundred day moving average price is $773.56. McKesson Corporation has a one year low of $570.51 and a one year high of $895.58.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $7.07 earnings per share. As a group, equities research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. McKesson’s dividend payout ratio is 10.21%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MCK shares. Wells Fargo & Company boosted their target price on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Jefferies Financial Group upped their target price on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Robert W. Baird set a $968.00 target price on McKesson in a research note on Wednesday, January 14th. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $966.00 price objective on shares of McKesson in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $899.36.

McKesson Company 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.