McKesson Corporation $MCK Shares Sold by KBC Group NV

KBC Group NV lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 5.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 116,444 shares of the company’s stock after selling 7,063 shares during the period. KBC Group NV’s holdings in McKesson were worth $85,328,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. National Pension Service raised its position in McKesson by 16.6% during the second quarter. National Pension Service now owns 376,778 shares of the company’s stock valued at $276,095,000 after acquiring an additional 53,577 shares in the last quarter. Advyzon Investment Management LLC acquired a new stake in shares of McKesson during the 2nd quarter worth approximately $427,000. Midland Wealth Advisors LLC increased its holdings in shares of McKesson by 7.9% during the 2nd quarter. Midland Wealth Advisors LLC now owns 888 shares of the company’s stock valued at $651,000 after purchasing an additional 65 shares in the last quarter. Vise Technologies Inc. purchased a new stake in McKesson during the second quarter worth $2,279,000. Finally, Allworth Financial LP grew its position in McKesson by 5.4% during the second quarter. Allworth Financial LP now owns 5,739 shares of the company’s stock valued at $4,205,000 after buying an additional 294 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

MCK opened at $855.78 on Wednesday. The company’s 50 day simple moving average is $764.28 and its two-hundred day simple moving average is $726.81. The firm has a market capitalization of $106.44 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 1-year low of $558.13 and a 1-year high of $867.63.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating 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 analysts’ expectations of $103.80 billion. During the same quarter in the previous year, the company posted $7.07 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 24,189 shares of company stock valued at $16,787,319. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho increased their price target on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday. Leerink Partners upped their price objective on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Finally, Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $887.69.

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.