McKesson Corporation $MCK Stake Boosted by Whittier Trust Co.

Key Points

• Whittier Trust Co. increased its stake in McKesson Corporation by 128.1% in Q2, owning 34,029 shares valued at approximately $24.9 million.
• Insiders, including CEO Brian S. Tyler, sold a total of 24,189 shares in the last quarter, indicating a potential 73.8% decrease in their holdings.
• McKesson recently raised its quarterly dividend from $0.71 to $0.82 per share, reflecting a commitment to returning value to shareholders.

Whittier Trust Co. grew its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 128.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,029 shares of the company's stock after purchasing an additional 19,108 shares during the quarter. Whittier Trust Co.'s holdings in McKesson were worth $24,935,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Divergent Planning LLC bought a new position in shares of McKesson during the second quarter valued at approximately $295,000. Phoenix Financial Ltd. grew its holdings in McKesson by 4.3% in the 2nd quarter. Phoenix Financial Ltd. now owns 16,738 shares of the company's stock worth $12,273,000 after buying an additional 693 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in McKesson by 1.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 227,498 shares of the company's stock worth $165,203,000 after buying an additional 3,781 shares in the last quarter. Bogart Wealth LLC grew its holdings in McKesson by 122.6% in the 2nd quarter. Bogart Wealth LLC now owns 118 shares of the company's stock worth $86,000 after buying an additional 65 shares in the last quarter. Finally, Drive Wealth Management LLC grew its holdings in McKesson by 4.4% in the 2nd quarter. Drive Wealth Management LLC now owns 740 shares of the company's stock worth $543,000 after buying an additional 31 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on 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 sale, the chief executive officer owned 4,012 shares of the company's stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,189 shares of company stock valued at $16,722,190 in the last quarter. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen raised McKesson from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. TD Cowen increased their price objective on McKesson from $830.00 to $864.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. increased their price objective on McKesson from $821.00 to $853.00 and gave the stock an "overweight" rating in a report on Friday, September 26th. Cowen reissued a "buy" rating on shares of McKesson in a report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $834.54.

McKesson Stock Performance

Shares of NYSE MCK opened at $788.38 on Tuesday. The stock has a fifty day moving average price of $718.77 and a two-hundred day moving average price of $710.76. The firm has a market cap of $98.06 billion, a P/E ratio of 31.43, a PEG ratio of 1.42 and a beta of 0.52. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $793.97.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The firm 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 business's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the business posted $7.88 earnings per share. On average, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

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.

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