Banco Bilbao Vizcaya Argentaria S.A. Decreases Stock Holdings in McKesson Corporation $MCK

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in McKesson Corporation by 85.5% in Q1, now holding only 4,869 shares worth $3.27 million after selling 28,771 shares.
• McKesson's quarterly earnings report revealed $8.26 EPS, slightly missing analysts' expectations of $8.33, but showed a 23.4% year-over-year revenue increase to $97.83 billion.
• The company announced an increase in its quarterly dividend to $0.82, up from $0.71, with an ex-dividend date set for September 2nd.

Banco Bilbao Vizcaya Argentaria S.A. lowered its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 85.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,869 shares of the company's stock after selling 28,771 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in McKesson were worth $3,271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCK. Brighton Jones LLC raised its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after acquiring an additional 798 shares in the last quarter. First Trust Advisors LP increased its stake in McKesson by 47.7% in the fourth quarter. First Trust Advisors LP now owns 50,743 shares of the company's stock valued at $28,919,000 after purchasing an additional 16,392 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in McKesson by 81.4% during the fourth quarter. Dark Forest Capital Management LP now owns 1,025 shares of the company's stock worth $584,000 after purchasing an additional 460 shares in the last quarter. MGO One Seven LLC raised its holdings in McKesson by 9.2% during the fourth quarter. MGO One Seven LLC now owns 5,357 shares of the company's stock worth $3,053,000 after purchasing an additional 453 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in shares of McKesson by 194.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 330 shares of the company's stock worth $188,000 after buying an additional 218 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. UBS Group increased their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Morgan Stanley reaffirmed an "overweight" rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Wells Fargo & Company lifted their target price on McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 13th. Finally, Cowen reissued a "buy" rating on shares of McKesson in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $725.10.

McKesson Stock Performance

Shares of McKesson stock opened at $706.1240 on Friday. The company has a market capitalization of $87.83 billion, a P/E ratio of 28.15, a PEG ratio of 1.40 and a beta of 0.50. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The company's fifty day moving average is $707.48 and its two-hundred day moving average is $684.02.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results 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 net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion during the quarter, compared to analysts' expectations of $95.93 billion. During the same period in the previous year, the company posted $7.88 earnings per share. McKesson's quarterly revenue was up 23.4% on a year-over-year basis. As a group, equities analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

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

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 341 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president directly owned 2,800 shares of the company's stock, valued at approximately $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,620 shares of company stock valued at $39,712,388. 0.08% of the stock is owned by company insiders.

McKesson Company 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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