McKesson Co. (NYSE:MCK) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC decreased its position in shares of McKesson Co. (NYSE:MCKGet Rating) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,489 shares of the company’s stock after selling 3,011 shares during the period. McKesson comprises 0.9% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 19th biggest position. ClariVest Asset Management LLC’s holdings in McKesson were worth $21,690,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Buckingham Strategic Wealth LLC increased its holdings in shares of McKesson by 31.9% in the 1st quarter. Buckingham Strategic Wealth LLC now owns 2,314 shares of the company’s stock valued at $708,000 after acquiring an additional 560 shares during the last quarter. Cibc World Market Inc. boosted its position in shares of McKesson by 34.2% in the 1st quarter. Cibc World Market Inc. now owns 52,292 shares of the company’s stock valued at $16,008,000 after purchasing an additional 13,339 shares during the period. Ritholtz Wealth Management boosted its position in shares of McKesson by 76.6% in the 2nd quarter. Ritholtz Wealth Management now owns 2,275 shares of the company’s stock valued at $742,000 after purchasing an additional 987 shares during the period. Csenge Advisory Group purchased a new stake in shares of McKesson in the first quarter valued at about $581,000. Finally, Park Avenue Securities LLC boosted its stake in shares of McKesson by 7.9% during the second quarter. Park Avenue Securities LLC now owns 1,460 shares of the company’s stock worth $476,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 86.43% of the company’s stock.

McKesson Stock Performance

McKesson stock traded up $3.02 during midday trading on Thursday, reaching $380.75. 739,680 shares of the company were exchanged, compared to its average volume of 1,234,046. The firm’s 50-day simple moving average is $363.40 and its 200-day simple moving average is $345.83. McKesson Co. has a 1 year low of $215.27 and a 1 year high of $401.78. The company has a market capitalization of $53.99 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 1.52 and a beta of 0.66.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, November 30th. McKesson’s payout ratio is 15.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Robert W. Baird upped their price target on McKesson from $405.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. Cowen upped their price target on shares of McKesson from $384.00 to $416.00 in a research note on Wednesday, November 2nd. Morgan Stanley raised their price objective on shares of McKesson from $370.00 to $403.00 and gave the company an “overweight” rating in a research note on Monday, August 22nd. UBS Group upped their target price on shares of McKesson from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Finally, Argus lifted their price target on shares of McKesson from $370.00 to $430.00 and gave the company a “buy” rating in a research report on Monday, September 12th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $395.91.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 1,300 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $367.21, for a total value of $477,373.00. Following the completion of the transaction, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $934,182.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McKesson news, EVP Thomas L. Rodgers sold 1,300 shares of McKesson stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $367.21, for a total value of $477,373.00. Following the completion of the sale, the executive vice president now owns 2,544 shares in the company, valued at approximately $934,182.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lori A. Schechter sold 2,500 shares of McKesson stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $391.02, for a total value of $977,550.00. Following the completion of the sale, the executive vice president now owns 6,678 shares of the company’s stock, valued at approximately $2,611,231.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,533 shares of company stock worth $9,105,126. 0.21% of the stock is owned by insiders.

About McKesson

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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