McKesson Corporation (NYSE:MCK) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in McKesson Corporation by 43.4%, now holding approximately 0.16% of the company worth $131 million after selling 149,340 shares.
• CEO Brian S. Tyler sold 19,371 shares of McKesson, reducing his ownership by 41% to approximately $19.7 million, while insiders collectively sold 52,488 shares worth $37.2 million in the last quarter.
• McKesson announced an increase in its quarterly dividend to $0.82 from $0.71, with a payout ratio of 10.99% and an annualized yield of 0.5%.

LSV Asset Management trimmed its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 43.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,740 shares of the company's stock after selling 149,340 shares during the quarter. LSV Asset Management owned approximately 0.16% of McKesson worth $131,058,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MCK. GAMMA Investing LLC raised its stake in McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares during the last quarter. Farallon Capital Management LLC acquired a new position in McKesson in the 4th quarter valued at $348,044,000. Marshall Wace LLP raised its stake in McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after purchasing an additional 358,322 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in McKesson in the 4th quarter valued at $182,861,000. Finally, Deutsche Bank AG raised its stake in McKesson by 64.0% in 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 last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president directly owned 2,621 shares in the company, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,488 shares of company stock worth $37,242,862. Corporate insiders own 0.08% of the company's stock.

McKesson Stock Up 0.7%

Shares of McKesson stock opened at $698.43 on Friday. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The business's fifty day simple moving average is $716.58 and its 200-day simple moving average is $676.24. The firm has a market cap of $87.38 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.41 and a beta of 0.50.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same quarter in the prior year, the company posted $6.18 EPS. The company's quarterly revenue was up 18.9% on a year-over-year basis. As a group, equities analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. McKesson's dividend payout ratio is currently 10.99%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MCK shares. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. 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. Wells Fargo & Company set a $766.00 target price on McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. UBS Group upped their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley restated an "overweight" rating and issued a $810.00 target price (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $710.17.

About McKesson

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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