Scharf Investments LLC Trims Stake in McKesson Co. (NYSE:MCK)

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Scharf Investments LLC decreased its position in shares of McKesson Co. (NYSE:MCK) by 4.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 571,066 shares of the company’s stock after selling 27,423 shares during the period. McKesson comprises about 3.0% of Scharf Investments LLC’s holdings, making the stock its 16th largest holding. Scharf Investments LLC owned about 0.31% of McKesson worth $76,746,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gradient Investments LLC grew its stake in shares of McKesson by 1,944.4% in the 2nd quarter. Gradient Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of McKesson in the 1st quarter worth approximately $27,000. Berman Capital Advisors LLC grew its stake in shares of McKesson by 175.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 289 shares of the company’s stock worth $37,000 after buying an additional 184 shares during the last quarter. Asset Dedication LLC grew its stake in shares of McKesson by 35.2% in the 2nd quarter. Asset Dedication LLC now owns 346 shares of the company’s stock worth $46,000 after buying an additional 90 shares during the last quarter. Finally, Cornerstone Advisors Inc. grew its stake in shares of McKesson by 168.8% in the 2nd quarter. Cornerstone Advisors Inc. now owns 387 shares of the company’s stock worth $52,000 after buying an additional 243 shares during the last quarter. Institutional investors own 86.44% of the company’s stock.

Shares of NYSE MCK traded down $2.37 during midday trading on Friday, hitting $143.73. 1,311,363 shares of the stock traded hands, compared to its average volume of 1,550,759. The firm has a 50-day moving average of $142.48 and a two-hundred day moving average of $130.02. The firm has a market capitalization of $26.90 billion, a P/E ratio of 10.59, a PEG ratio of 1.44 and a beta of 1.13. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 1.01. McKesson Co. has a one year low of $106.11 and a one year high of $150.82.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.27. The firm had revenue of $55.73 billion for the quarter, compared to analysts’ expectations of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 EPS. Equities analysts forecast that McKesson Co. will post 14.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.14%. This is a boost from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio is presently 12.09%.

Several research firms recently weighed in on MCK. Cleveland Research restated a “hold” rating on shares of McKesson in a research note on Thursday, September 5th. Credit Suisse Group started coverage on McKesson in a research report on Monday, July 22nd. They issued a “neutral” rating and a $143.00 price objective on the stock. Wolfe Research cut McKesson from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. Morgan Stanley upped their price objective on McKesson from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 27th. Finally, ValuEngine cut McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $147.20.

In other news, EVP Lori A. Schechter sold 2,500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $144.40, for a total value of $361,000.00. Following the completion of the sale, the executive vice president now directly owns 4,535 shares in the company, valued at approximately $654,854. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sundeep G. Reddy sold 422 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $143.79, for a total value of $60,679.38. Following the completion of the sale, the senior vice president now owns 1,268 shares of the company’s stock, valued at $182,325.72. The disclosure for this sale can be found here. Insiders have sold a total of 4,218 shares of company stock worth $611,738 over the last three months. Insiders own 0.88% of the company’s stock.

McKesson Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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