McKesson Co. (NYSE:MCK) Shares Sold by Mosley Wealth Management

Mosley Wealth Management cut its stake in McKesson Co. (NYSE:MCK) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 552 shares of the company’s stock after selling 27 shares during the period. Mosley Wealth Management’s holdings in McKesson were worth $322,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Great Lakes Advisors LLC increased its holdings in shares of McKesson by 3.4% in the 2nd quarter. Great Lakes Advisors LLC now owns 79,894 shares of the company’s stock valued at $46,661,000 after acquiring an additional 2,626 shares during the period. Los Angeles Capital Management LLC increased its stake in McKesson by 254.0% in the second quarter. Los Angeles Capital Management LLC now owns 2,418 shares of the company’s stock valued at $1,412,000 after purchasing an additional 1,735 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of McKesson by 0.9% in the second quarter. Cullen Frost Bankers Inc. now owns 2,600 shares of the company’s stock valued at $1,519,000 after buying an additional 22 shares during the last quarter. Hanlon Investment Management Inc. boosted its stake in shares of McKesson by 10.6% during the second quarter. Hanlon Investment Management Inc. now owns 1,414 shares of the company’s stock worth $826,000 after buying an additional 136 shares during the period. Finally, Savant Capital LLC grew its holdings in shares of McKesson by 53.6% during the second quarter. Savant Capital LLC now owns 15,222 shares of the company’s stock worth $8,890,000 after buying an additional 5,315 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the transaction, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the sale, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The disclosure for this sale can be found here. Insiders have sold a total of 11,859 shares of company stock valued at $6,986,810 in the last quarter. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 2.1 %

Shares of NYSE MCK traded down $10.58 during trading on Friday, reaching $504.17. The company had a trading volume of 1,924,323 shares, compared to its average volume of 761,035. McKesson Co. has a twelve month low of $412.64 and a twelve month high of $637.51. The stock has a 50-day moving average price of $574.75 and a two-hundred day moving average price of $557.29. The stock has a market capitalization of $65.51 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the previous year, the company posted $7.27 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 32.14 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, August 30th. McKesson’s payout ratio is presently 12.69%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCK. Evercore ISI dropped their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Mizuho raised their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Robert W. Baird lowered their target price on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Barclays raised their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $624.93.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.