Vanguard Group Inc. Buys 232,286 Shares of McKesson Corporation $MCK

Vanguard Group Inc. grew its position in shares of McKesson Corporation (NYSE:MCK) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,072,090 shares of the company’s stock after acquiring an additional 232,286 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of McKesson worth $8,846,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of McKesson during the 1st quarter valued at about $241,000. J.W. Cole Advisors Inc. lifted its stake in shares of McKesson by 320.0% in the 1st quarter. J.W. Cole Advisors Inc. now owns 3,524 shares of the company’s stock worth $2,371,000 after purchasing an additional 2,685 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in shares of McKesson by 52.3% in the first quarter. Hazlett Burt & Watson Inc. now owns 198 shares of the company’s stock worth $133,000 after buying an additional 68 shares during the last quarter. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of McKesson by 31.4% in the first quarter. Crestwood Advisors Group LLC now owns 574 shares of the company’s stock worth $386,000 after buying an additional 137 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’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 value of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $861.33 on Wednesday. The stock has a market cap of $106.31 billion, a PE ratio of 34.34, 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. The firm has a fifty day moving average price of $779.78 and a 200-day moving average price of $731.82.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share 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 company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the prior year, the firm posted $7.07 EPS. McKesson’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend 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 is 10.21%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley upped their target price on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Citigroup boosted their price objective on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of McKesson in a report on Thursday, November 13th. Robert W. Baird lifted their target price on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Zacks Research raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $887.69.

About McKesson

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.