McKesson Corporation $MCK Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 5.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 18,820 shares of the company’s stock after selling 1,071 shares during the period. Yousif Capital Management LLC’s holdings in McKesson were worth $14,539,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MCK. Solstein Capital LLC raised its stake in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the period. State of Wyoming acquired a new stake in shares of McKesson during the 2nd quarter worth $29,000. GFG Capital LLC purchased a new position in shares of McKesson in the 2nd quarter worth $30,000. Saudi Central Bank purchased a new position in shares of McKesson in the 1st quarter worth $34,000. Finally, Delos Wealth Advisors LLC acquired a new position in McKesson in the second quarter valued at $35,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of NYSE:MCK opened at $818.56 on Tuesday. The business’s 50-day simple moving average is $827.23 and its 200 day simple moving average is $752.79. The company has a market cap of $101.04 billion, a P/E ratio of 25.48, a PEG ratio of 1.35 and a beta of 0.38. McKesson Corporation has a one year low of $565.75 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, beating the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion during 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 quarter last year, the company earned $7.07 earnings per share. Analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s 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 transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on MCK. Citigroup upped their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. boosted their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Morgan Stanley raised their price target on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. UBS Group lifted their price target on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Barclays assumed coverage on shares of McKesson in a research note on Monday, December 8th. They set an “overweight” rating and a $960.00 price objective for the company. Two investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.

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.