SYSTM Wealth Solutions LLC Reduces Position in McKesson Co. (NYSE:MCK)

SYSTM Wealth Solutions LLC trimmed its position in McKesson Co. (NYSE:MCK) by 96.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103 shares of the company’s stock after selling 2,952 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in McKesson were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its position in shares of McKesson by 0.3% in the second quarter. Mutual of America Capital Management LLC now owns 20,394 shares of the company’s stock valued at $11,911,000 after acquiring an additional 63 shares during the period. Virtu Financial LLC purchased a new position in McKesson during the 2nd quarter valued at about $4,167,000. Moors & Cabot Inc. raised its position in McKesson by 7.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,448 shares of the company’s stock valued at $1,430,000 after purchasing an additional 163 shares during the last quarter. WealthPLAN Partners LLC lifted its holdings in McKesson by 23.5% in the 2nd quarter. WealthPLAN Partners LLC now owns 1,363 shares of the company’s stock worth $796,000 after buying an additional 259 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in shares of McKesson by 88.6% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 1,858 shares of the company’s stock worth $1,086,000 after buying an additional 873 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Down 0.7 %

McKesson stock opened at $507.95 on Friday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a market capitalization of $66.00 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The business’s fifty day simple moving average is $561.63 and its two-hundred day simple moving average is $557.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.27 EPS. On average, equities research analysts predict 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. Investors of record on Monday, September 2nd will be issued a $0.71 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, August 30th. McKesson’s payout ratio is presently 12.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCK. Argus raised their price target on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Bank of America raised their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Leerink Partners reduced their target price on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $620.93.

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.