McKesson Corporation $MCK Shares Sold by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA has reduced its holdings in McKesson Corporation by 60.5%, selling 17,119 shares and bringing its total to 11,179 shares valued at approximately $7.92 million.
• CEO Brian S. Tyler sold 11,930 shares of McKesson at an average price of $705.63, indicating a 74.83% decrease in his position, leaving him with 4,012 shares valued at about $2.83 million.
• McKesson recently announced a quarterly dividend increase to $0.82 per share, with a payout ratio of 13.08%, reflecting a commitment to returning value to shareholders.

Union Bancaire Privee UBP SA lessened its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 60.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,179 shares of the company's stock after selling 17,119 shares during the quarter. Union Bancaire Privee UBP SA's holdings in McKesson were worth $7,917,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bank of Jackson Hole Trust grew its stake in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after purchasing an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Saudi Central Bank acquired a new position in shares of McKesson in the 1st quarter worth approximately $34,000. Flaharty Asset Management LLC acquired a new position in shares of McKesson in the 1st quarter worth approximately $39,000. Finally, Pandora Wealth Inc. acquired a new position in shares of McKesson in the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company's stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's stock in a transaction 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 sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock worth $30,438,602 in the last ninety days. 0.08% of the stock is owned by company insiders.

McKesson Price Performance

NYSE:MCK opened at $762.22 on Tuesday. The business has a 50 day simple moving average of $698.81 and a 200 day simple moving average of $700.77. The firm has a market capitalization of $94.80 billion, a P/E ratio of 30.39, a P/E/G ratio of 1.36 and a beta of 0.51. McKesson Corporation has a 12-month low of $480.39 and a 12-month high of $770.00.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The business had revenue of $97.83 billion for the quarter, compared to the consensus estimate 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 was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.88 EPS. Research analysts anticipate 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. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio (DPR) is presently 13.08%.

Analyst Ratings Changes

Several brokerages have recently commented on MCK. Citigroup lifted their target price on McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Bank of America lifted their target price on McKesson from $800.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, JPMorgan Chase & Co. lifted their target price on McKesson from $821.00 to $853.00 and gave the stock an "overweight" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $829.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.