Aware Super Pty Ltd as trustee of Aware Super Cuts Stock Holdings in McKesson Corporation $MCK

Key Points

• Aware Super Pty Ltd significantly reduced its stake in McKesson Corporation by 63.2%, owning 6,000 shares valued at approximately $4.4 million after selling 10,298 shares in the second quarter.
• Several institutional investors increased their involvement in McKesson, with notable increases like CBIZ Investment Advisory Services growing its stake by 1,366.7%.
• The company recently increased its quarterly dividend from $0.71 to $0.82 per share, reflecting a commitment to returning value to shareholders despite a slight earnings miss in its latest report.

Aware Super Pty Ltd as trustee of Aware Super reduced its stake in McKesson Corporation (NYSE:MCK - Free Report) by 63.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the company's stock after selling 10,298 shares during the period. Aware Super Pty Ltd as trustee of Aware Super's holdings in McKesson were worth $4,397,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GFG Capital LLC acquired a new stake in McKesson in the 2nd quarter valued at about $30,000. CBIZ Investment Advisory Services LLC increased its stake 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 buying an additional 41 shares during the period. Bank of Jackson Hole Trust increased its stake in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after buying an additional 18 shares during the period. Saudi Central Bank acquired a new stake in McKesson in the first quarter valued at approximately $34,000. Finally, Flaharty Asset Management LLC purchased a new position in McKesson in the first quarter worth approximately $39,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Leerink Partners increased their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. TD Cowen increased their target price on McKesson from $830.00 to $864.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Mizuho raised their price target on McKesson from $750.00 to $770.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Morgan Stanley upped their price objective on McKesson from $810.00 to $857.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Finally, Wall Street Zen raised McKesson from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. One investment 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $834.54.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer owned 657 shares of the company's stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

McKesson Stock Performance

Shares of MCK stock opened at $791.40 on Thursday. The stock's 50-day moving average is $711.83 and its two-hundred day moving average is $708.47. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $792.34. The firm has a market cap of $98.43 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 1.41 and a beta of 0.52.

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

McKesson Increases Dividend

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

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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