Leuthold Group LLC Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Leuthold Group LLC reduced its position in McKesson Co. (NYSE:MCK) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,907 shares of the company’s stock after selling 161 shares during the quarter. McKesson comprises about 1.2% of Leuthold Group LLC’s holdings, making the stock its 21st biggest holding. Leuthold Group LLC’s holdings in McKesson were worth $10,458,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MCK. RFP Financial Group LLC grew its position in shares of McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after purchasing an additional 17 shares in the last quarter. Modera Wealth Management LLC grew its position in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares in the last quarter. Larson Financial Group LLC grew its position in McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after buying an additional 17 shares in the last quarter. First Western Trust Bank increased its stake in McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after acquiring an additional 18 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of McKesson by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 11,259 shares of company stock worth $6,635,492. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MCK shares. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Mizuho increased their price target on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Leerink Partners dropped their price objective on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Barclays lifted their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two equities 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, the company presently has an average rating of “Moderate Buy” and an average target price of $620.93.

McKesson Price Performance

Shares of MCK stock opened at $511.62 on Thursday. The business has a 50-day moving average of $562.98 and a 200 day moving average of $557.34. The stock has a market capitalization of $66.48 billion, a PE ratio of 22.86, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1-year low of $428.50 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter last year, the business earned $7.27 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Analysts anticipate that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

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

McKesson Company 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.