McKesson Corporation $MCK Shares Sold by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC reduced its holdings in McKesson Corporation by 9.8%, now owning 8,725 shares valued at approximately $5.87 million after selling 945 shares in Q1.
• McKesson reported $8.26 EPS for the last quarter, missing estimates and showing a 23.4% revenue increase year-on-year, totaling $97.83 billion.
• The company has declared a quarterly dividend of $0.82 per share, increasing from the previous $0.71, with a dividend yield of 0.5%.

CreativeOne Wealth LLC lessened its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,725 shares of the company's stock after selling 945 shares during the period. CreativeOne Wealth LLC's holdings in McKesson were worth $5,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Northern Trust Corp raised its holdings in shares of McKesson by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company's stock worth $1,038,008,000 after acquiring an additional 10,179 shares during the period. Boston Partners raised its holdings in shares of McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company's stock worth $984,927,000 after acquiring an additional 365,484 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of McKesson by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company's stock worth $868,237,000 after acquiring an additional 107,638 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of McKesson by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,103,050 shares of the company's stock worth $628,639,000 after acquiring an additional 95,806 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of McKesson stock traded up $5.42 on Friday, reaching $686.44. 880,317 shares of the company were exchanged, compared to its average volume of 984,242. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The company has a market cap of $85.38 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.50. The stock's 50 day moving average price is $702.44 and its 200-day moving average price is $687.34.

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 in the prior year, the firm posted $7.88 earnings per share. The business's quarterly revenue was up 23.4% compared to the same quarter last year. On average, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. 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. McKesson's dividend payout ratio is currently 11.32%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCK. Morgan Stanley restated an "overweight" rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Wells Fargo & Company boosted their price objective on shares of McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Cowen restated a "buy" rating on shares of McKesson in a report on Thursday, August 7th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $725.10.

Insider Buying and Selling

In related 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 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 $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 27,872 shares of the company's stock, valued at $19,735,884.48. This trade represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,930 shares of company stock valued at $44,112,466 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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.