McKesson Corporation (MCK) Position Trimmed by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 26.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,380 shares of the company’s stock after selling 484 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in McKesson Corporation were worth $227,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in McKesson Corporation by 12.7% during the 2nd quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after purchasing an additional 239,358 shares in the last quarter. Loews Corp acquired a new stake in McKesson Corporation during the 1st quarter valued at $253,000. HealthInvest Partners AB increased its holdings in McKesson Corporation by 23.7% during the 2nd quarter. HealthInvest Partners AB now owns 63,100 shares of the company’s stock valued at $10,382,000 after purchasing an additional 12,100 shares in the last quarter. ProVise Management Group LLC increased its holdings in McKesson Corporation by 495.7% during the 2nd quarter. ProVise Management Group LLC now owns 25,525 shares of the company’s stock valued at $4,200,000 after purchasing an additional 21,240 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in McKesson Corporation by 6.1% during the 2nd quarter. GHP Investment Advisors Inc. now owns 11,201 shares of the company’s stock valued at $1,843,000 after purchasing an additional 642 shares in the last quarter. 85.28% of the stock is owned by hedge funds and other institutional investors.

In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Insiders have sold 3,066 shares of company stock worth $473,627 in the last ninety days. Insiders own 1.20% of the company’s stock.

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McKesson Corporation (NYSE MCK) opened at 149.88 on Friday. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $169.29. The company has a market capitalization of $31.51 billion, a price-to-earnings ratio of 6.80 and a beta of 1.16. The stock has a 50 day moving average price of $152.20 and a 200 day moving average price of $153.01.

McKesson Corporation (NYSE:MCK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.81 by ($0.35). The company had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.50 earnings per share. Analysts anticipate that McKesson Corporation will post $12.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.91%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio is 6.07%.

Several equities research analysts have recently commented on the company. TheStreet cut McKesson Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 target price for the company in a research note on Monday, June 12th. Morgan Stanley cut McKesson Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $184.00 to $172.00 in a research note on Thursday. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 target price for the company in a research note on Tuesday, May 23rd. Finally, Leerink Swann lifted their target price on McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $170.91.

McKesson Corporation Profile

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

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Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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