Dimensional Fund Advisors LP Sells 2,650 Shares of McKesson Corporation $MCK

Key Points

• Dimensional Fund Advisors LP reduced its stake in McKesson Corporation by 0.7% for a total ownership of approximately $252.4 million.
• McKesson recently announced a dividend increase to $0.82 per share, which will be paid on October 1st, up from the previous $0.71 dividend.
• The company reported earnings per share (EPS) of $8.26 for the last quarter, which missed analysts' expectations of $8.33 but showed a 23.4% increase in revenue compared to the same period last year.

Dimensional Fund Advisors LP decreased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 375,086 shares of the company's stock after selling 2,650 shares during the period. Dimensional Fund Advisors LP owned 0.30% of McKesson worth $252,410,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MCK. Capital A Wealth Management LLC acquired a new stake in McKesson during the 4th quarter worth approximately $26,000. Bank of Jackson Hole Trust lifted its holdings 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 in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after acquiring an additional 41 shares during the period. Pandora Wealth Inc. acquired a new position in shares of McKesson in the first quarter valued at about $40,000. Finally, Dagco Inc. bought a new position in McKesson during the first quarter worth about $47,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCK. Evercore ISI boosted their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Bank of America boosted their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. UBS Group raised their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company upped their target price on McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 13th. Finally, Cowen reissued a "buy" rating on shares of McKesson in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $725.10.

McKesson Price Performance

NYSE:MCK traded down $20.1420 during trading hours on Friday, hitting $685.8580. The company's stock had a trading volume of 911,232 shares, compared to its average volume of 889,539. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The stock has a fifty day simple moving average of $707.48 and a 200-day simple moving average of $684.02. The company has a market capitalization of $85.31 billion, a P/E ratio of 27.35, a PEG ratio of 1.40 and a beta of 0.50.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The company 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 company's revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.88 earnings per share. On average, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This is a positive change from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend 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%.

Insider Buying and Selling at McKesson

In other news, CFO Britt J. Vitalone sold 1,878 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $1,348,234.98. Following the completion of the transaction, the chief financial officer owned 14,028 shares of the company's stock, valued at $10,070,841.48. This represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 341 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the completion of the transaction, the executive vice president owned 2,800 shares of the company's stock, valued at approximately $2,010,148. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,620 shares of company stock worth $39,712,388 over the last three months. 0.08% of the stock is owned by corporate insiders.

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.