McKesson Corporation $MCK Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding Ltd. sold 32.3% of its holdings in McKesson during Q2, reducing its shares to 39,136, valued at approximately $28.7 million.
• CEO Brian S. Tyler sold nearly 12,000 shares of McKesson, representing a 74.83% decrease in his ownership, while the company declared a quarterly dividend increase to $0.82 per share.
• McKesson reported $8.26 earnings per share in its last earnings report, missing the consensus estimate, but showed a year-over-year revenue increase of 23.4% to nearly $97.83 billion.

Vontobel Holding Ltd. lessened its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 32.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,136 shares of the company's stock after selling 18,688 shares during the quarter. Vontobel Holding Ltd.'s holdings in McKesson were worth $28,678,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bank of Jackson Hole Trust grew its position in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC grew its position in McKesson by 1,366.7% during 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. Saudi Central Bank purchased a new position in McKesson in the first quarter valued at about $34,000. Flaharty Asset Management LLC purchased a new position in McKesson in the first quarter valued at about $39,000. Finally, Pandora Wealth Inc. purchased a new position in McKesson in the first quarter valued at about $40,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,189 shares of company stock worth $16,722,190. Insiders own 0.08% of the company's stock.

McKesson Price Performance

MCK opened at $758.07 on Friday. McKesson Corporation has a one year low of $492.39 and a one year high of $776.14. The company's 50 day simple moving average is $706.17 and its 200-day simple moving average is $705.39. The stock has a market capitalization of $94.29 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 1.36 and a beta of 0.52.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. This is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson's payout ratio is presently 13.08%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCK. JPMorgan Chase & Co. raised their price objective on McKesson from $821.00 to $853.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. Weiss Ratings restated a "buy (b)" rating on shares of McKesson in a research note on Wednesday. TD Cowen raised their target price on McKesson from $830.00 to $864.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Leerink Partners raised their target price on McKesson from $785.00 to $850.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Finally, Evercore ISI lifted their price target on McKesson from $800.00 to $825.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average price target 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.

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