McKesson Corporation (NYSE:MCK) Stock Holdings Reduced by Atlas Capital Advisors Inc.

Key Points

• Atlas Capital Advisors Inc. reduced its stake in McKesson Corporation by 7.6%, holding shares worth approximately $3.48 million after selling 424 shares.
• McKesson recently reported $8.26 EPS for its latest quarter, which was below the consensus estimate, but achieved a revenue of $97.83 billion, surpassing analyst expectations.
• The company announced an increase in its quarterly dividend from $0.71 to $0.82, with the next payment scheduled for October 1st, resulting in an annualized dividend yield of 0.5%.

Atlas Capital Advisors Inc. cut its position in McKesson Corporation (NYSE:MCK - Free Report) by 7.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,167 shares of the company's stock after selling 424 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in McKesson were worth $3,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its stake in McKesson by 54.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after purchasing an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of McKesson by 16.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after acquiring an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of McKesson by 18.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock worth $15,501,000 after acquiring an additional 3,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of McKesson by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock worth $123,332,000 after acquiring an additional 7,556 shares in the last quarter. Finally, LPL Financial LLC grew its position in shares of McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company's stock worth $104,950,000 after acquiring an additional 17,750 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK traded down $13.99 during midday trading on Tuesday, reaching $658.78. The stock had a trading volume of 1,644,064 shares, compared to its average volume of 899,068. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The firm's 50 day moving average price is $713.17 and its 200-day moving average price is $680.90. The company has a market capitalization of $81.94 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.32 and a beta of 0.50.

McKesson (NYSE:MCK - Get Free Report) last posted 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 firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the prior year, the firm posted $7.88 EPS. The firm's quarterly revenue was up 23.4% on a year-over-year basis. On average, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. McKesson's dividend payout ratio is 11.32%.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer owned 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of McKesson stock in a transaction on 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 transaction, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,817 shares of company stock valued at $37,461,210. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCK. Morgan Stanley restated an "overweight" rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. UBS Group boosted their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Evercore ISI boosted their price objective on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Cowen restated a "buy" rating on shares of McKesson in a research report on Thursday, August 7th. Finally, Bank of America boosted their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $718.73.

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.