Nisa Investment Advisors LLC Sells 2,190 Shares of McKesson Corporation $MCK

Nisa Investment Advisors LLC lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,877 shares of the company’s stock after selling 2,190 shares during the quarter. Nisa Investment Advisors LLC’s holdings in McKesson were worth $33,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. CW Advisors LLC boosted its stake in McKesson by 282.5% during the 2nd quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock worth $8,067,000 after purchasing an additional 8,130 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of McKesson by 11.9% in the third quarter. Voya Investment Management LLC now owns 598,880 shares of the company’s stock worth $462,126,000 after buying an additional 63,621 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in 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 acquiring an additional 1,378 shares during the last quarter. Investment Management Corp of Ontario boosted its position in McKesson by 19.0% during the second 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 during the last quarter. Finally, Motco grew its stake in McKesson by 50,389.7% during the 3rd quarter. Motco now owns 14,642 shares of the company’s stock valued at $11,312,000 after acquiring an additional 14,613 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Down 1.2%

Shares of McKesson stock opened at $814.44 on Friday. The firm has a market cap of $100.52 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58. The business’s fifty day simple moving average is $834.40 and its 200-day simple moving average is $761.73.

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. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. During the same period in the previous year, the firm earned $7.07 EPS. McKesson’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a $0.82 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is presently 10.21%.

Wall Street Analyst Weigh In

MCK has been the topic of several recent research reports. Morgan Stanley boosted their target price on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Mizuho lifted their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Robert W. Baird boosted their price objective on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. TD Cowen raised their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $892.86.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction dated Monday, January 5th. The shares were 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by corporate 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.