Vanguard Group Inc. Boosts Holdings in McKesson Corporation $MCK

Vanguard Group Inc. grew its stake in shares of McKesson Corporation (NYSE:MCK) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,072,090 shares of the company’s stock after purchasing an additional 232,286 shares during the period. Vanguard Group Inc. owned approximately 9.71% of McKesson worth $8,846,186,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB boosted its position in McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after acquiring an additional 14 shares in the last quarter. Cardinal Point Capital Management ULC boosted its position in shares of McKesson by 2.2% during the second quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after purchasing an additional 14 shares in the last quarter. Cypress Wealth Services LLC grew its stake in McKesson by 3.7% in the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after purchasing an additional 15 shares during the period. HBK Sorce Advisory LLC raised its holdings in McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock worth $866,000 after purchasing an additional 16 shares in the last quarter. Finally, Valmark Advisers Inc. lifted its position in McKesson by 2.1% during the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after buying an additional 17 shares during the period. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

NYSE:MCK opened at $861.33 on Wednesday. The firm has a market cap of $106.31 billion, a P/E ratio of 34.34, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a fifty-two week low of $558.13 and a fifty-two week high of $867.63. The firm has a 50-day simple moving average of $779.78 and a two-hundred day simple moving average of $731.82.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the prior year, the firm posted $7.07 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup upped their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wells Fargo & Company boosted their price objective on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Jefferies Financial Group upped their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, Bank of America boosted their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $887.69.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.08% of the company’s stock.

McKesson Company 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.