McKesson Corporation $MCK Shares Sold by DRW Securities LLC

Key Points

• DRW Securities LLC reduced its stake in McKesson Corporation by 48.0% during the first quarter, now holding 717 shares worth approximately $483,000.
• Analysts have adjusted their ratings on McKesson, with nine "Buy" ratings and an increased price target from Evercore ISI to $800.00.
• McKesson announced a new quarterly dividend of $0.82, up from the previous $0.71, reflecting a positive change in its dividend policy.

DRW Securities LLC lowered its stake in McKesson Corporation (NYSE:MCK - Free Report) by 48.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 717 shares of the company's stock after selling 663 shares during the quarter. DRW Securities LLC's holdings in McKesson were worth $483,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CBIZ Investment Advisory Services LLC lifted its holdings in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after purchasing an additional 41 shares during the period. Capital A Wealth Management LLC bought a new stake in McKesson in the fourth quarter worth about $26,000. Bank of Jackson Hole Trust raised its position in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after acquiring an additional 18 shares in the last quarter. Pandora Wealth Inc. bought a new stake in McKesson in the first quarter worth about $40,000. Finally, Dagco Inc. bought a new stake in McKesson in the first quarter worth about $47,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

MCK has been the topic of several research reports. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Evercore ISI boosted their price target on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Cowen reiterated a "buy" rating on shares of McKesson in a research report on Thursday, August 7th. Morgan Stanley reiterated an "overweight" rating and issued a $810.00 price target (up from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Finally, Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One 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 company's stock. According to MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $725.10.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 19,371 shares of the company's stock in a transaction dated Friday, July 11th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares of the company's stock, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,930 shares of company stock worth $44,112,466 in the last quarter. 0.08% of the stock is owned by corporate insiders.

McKesson Trading Up 0.8%

NYSE MCK opened at $686.44 on Monday. The stock's 50-day moving average price is $702.44 and its two-hundred day moving average price is $688.57. The company has a market cap of $85.38 billion, a PE ratio of 27.37, a PEG ratio of 1.37 and a beta of 0.51. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson's quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.88 EPS. Research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio is currently 13.08%.

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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