Ameritas Advisory Services LLC Sells 527 Shares of McKesson Corporation $MCK

Ameritas Advisory Services LLC decreased its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 55.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 427 shares of the company's stock after selling 527 shares during the quarter. Ameritas Advisory Services LLC's holdings in McKesson were worth $313,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MCK. Bank of Jackson Hole Trust raised its position in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after purchasing an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Saudi Central Bank bought a new stake in shares of McKesson during the first quarter worth $34,000. Flaharty Asset Management LLC bought a new stake in shares of McKesson during the first quarter worth $39,000. Finally, Pandora Wealth Inc. bought a new stake in shares of McKesson during the first quarter worth $40,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Up 1.2%

Shares of McKesson stock opened at $750.13 on Wednesday. McKesson Corporation has a 12 month low of $486.77 and a 12 month high of $776.14. The business has a fifty day simple moving average of $704.07 and a 200 day simple moving average of $704.37. The stock has a market cap of $93.30 billion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 1.34 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period last year, the firm earned $7.88 earnings per share. The firm's revenue for the quarter was up 23.4% on a year-over-year basis. Analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.82 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson's payout ratio is presently 13.08%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCK. Evercore ISI boosted their target price on McKesson from $800.00 to $825.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their target price on McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Cowen restated a "buy" rating on shares of McKesson in a research report on Wednesday, September 24th. Weiss Ratings restated a "buy (b)" rating on shares of McKesson in a research report on Saturday, September 27th. Finally, Bank of America lifted their price objective on McKesson from $800.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $829.08.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares of the company's stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer directly owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,560 shares of company stock valued at $30,438,602. Insiders own 0.08% of the company's stock.

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.

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