McKesson Corporation $MCK Shares Sold by Peoples Bank KS

Key Points

• Peoples Bank KS has reduced its holdings in McKesson Corporation by 24.8%, now owning 1,485 shares valued at approximately $1,088,000.
• McKesson recently announced a quarterly dividend increase to $0.82 per share, up from $0.71, representing an annualized yield of 0.5%.
• The company reported $8.26 EPS for its last quarter, missing estimates slightly, but achieved $97.83 billion in revenue, exceeding expectations.

Peoples Bank KS cut its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 24.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,485 shares of the company's stock after selling 490 shares during the quarter. Peoples Bank KS's holdings in McKesson were worth $1,088,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the last quarter. Northern Trust Corp boosted its position in McKesson by 0.7% during the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company's stock valued at $1,038,008,000 after purchasing an additional 10,179 shares during the last quarter. Boston Partners boosted its position in McKesson by 33.3% during the first quarter. Boston Partners now owns 1,461,785 shares of the company's stock valued at $984,927,000 after purchasing an additional 365,484 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in McKesson by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company's stock valued at $868,237,000 after buying an additional 107,638 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of McKesson by 16.5% in the first 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 purchasing an additional 181,831 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley reissued 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. Evercore ISI increased their price target on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen cut shares of McKesson from a "buy" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company lifted their price target on shares of McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. Finally, Cowen restated a "buy" rating on shares of McKesson in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, McKesson presently has an average rating of "Moderate Buy" and an average price target of $725.10.

McKesson Stock Performance

Shares of MCK traded up $7.94 during mid-day trading on Friday, hitting $698.07. 1,445,591 shares of the company traded hands, compared to its average volume of 666,644. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The stock has a market cap of $86.83 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 1.39 and a beta of 0.51. The stock has a 50-day moving average price of $695.15 and a two-hundred day moving average price of $696.05.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion for 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 firm's quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.88 earnings per share. On average, analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm 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 dividend of $0.82 per share. 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 dividend on an annualized basis and a yield of 0.5%. McKesson's payout ratio is currently 13.08%.

Insider Buying and Selling at McKesson

In other news, 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 approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm's stock in a transaction dated 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 transaction, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,560 shares of company stock worth $30,438,602. Insiders own 0.08% of the company's stock.

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.