McKesson Corporation $MCK Shares Sold by Yousif Capital Management LLC

Key Points

• Yousif Capital Management LLC reduced its stake in McKesson Corporation by 2.7%, holding 19,891 shares valued at approximately $14.58 million.
• McKesson recently reported quarterly earnings of $8.26 per share, falling short of estimates, while its revenue of $97.83 billion exceeded expectations and showed a 23.4% year-over-year increase.
• The company announced an increase in its quarterly dividend from $0.71 to $0.82 per share, reflecting a 0.4% yield based on an annualized payout of $3.28.

Yousif Capital Management LLC trimmed its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,891 shares of the company's stock after selling 543 shares during the period. Yousif Capital Management LLC's holdings in McKesson were worth $14,576,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp increased 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 buying an additional 10,179 shares during the last quarter. Boston Partners increased 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 buying an additional 365,484 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 buying an additional 107,638 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of McKesson by 16.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company's stock worth $864,712,000 after buying an additional 181,831 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of McKesson by 0.7% during the 1st quarter. Invesco Ltd. now owns 1,061,744 shares of the company's stock worth $714,543,000 after buying an additional 7,108 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE:MCK opened at $763.89 on Monday. The firm has a 50-day moving average of $707.48 and a two-hundred day moving average of $706.67. The stock has a market cap of $95.01 billion, a P/E ratio of 30.46, a PEG ratio of 1.38 and a beta of 0.52. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $776.14.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio is currently 13.08%.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction dated Friday, August 8th. The shares were 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on MCK shares. Weiss Ratings reiterated a "buy (b)" rating on shares of McKesson in a report on Wednesday, October 8th. Evercore ISI increased their price target on McKesson from $800.00 to $825.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. TD Cowen increased their price target on McKesson from $830.00 to $864.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Bank of America increased their price target on McKesson from $800.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Finally, Wall Street Zen upgraded McKesson from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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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