McKesson Corporation (NYSE:MCK) Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in McKesson Corporation by 26.0% during the 1st quarter, now owning 6,391 shares valued at approximately $4.3 million.
• Analyst price targets for McKesson have increased, with estimates ranging from $800.00 to $810.00, with a consensus rating of "Moderate Buy".
• McKesson announced an increase in its quarterly dividend from $0.71 to $0.82 per share, reflecting a positive outlook for shareholders.

Atria Wealth Solutions Inc. reduced its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,391 shares of the company's stock after selling 2,244 shares during the period. Atria Wealth Solutions Inc.'s holdings in McKesson were worth $4,306,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after buying an additional 2,389,992 shares during the last quarter. Farallon Capital Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $348,044,000. Marshall Wace LLP grew its holdings in McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after acquiring an additional 358,322 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in McKesson during the 4th quarter valued at about $182,861,000. Finally, Deutsche Bank AG lifted its position in McKesson by 64.0% during the 4th quarter. Deutsche Bank AG now owns 751,283 shares of the company's stock valued at $428,164,000 after purchasing an additional 293,148 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of McKesson stock traded down $19.07 during trading hours on Tuesday, hitting $653.70. 751,694 shares of the company's stock traded hands, compared to its average volume of 892,652. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89. The stock has a market capitalization of $81.31 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.32 and a beta of 0.50. The company has a fifty day simple moving average of $713.17 and a 200-day simple moving average of $680.90.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly 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 firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%. The firm's revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.88 EPS. On average, analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.5%. McKesson's payout ratio is currently 11.32%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MCK shares. Bank of America lifted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Morgan Stanley reaffirmed an "overweight" rating and issued a $810.00 price target (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Evercore ISI upped their target price on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $718.73.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 341 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $244,807.31. Following the completion of the sale, the executive vice president owned 2,800 shares in the company, valued at approximately $2,010,148. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president owned 2,544 shares of the company's stock, valued at $1,811,785.92. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,817 shares of company stock valued at $37,461,210 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

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.