Stanley Laman Group Ltd. Sells 2,804 Shares of McKesson Corporation $MCK

Key Points

• Stanley Laman Group Ltd. reduced its stake in McKesson Corporation by 33.3%, selling 2,804 shares, and now holds 5,624 shares valued at approximately $4.12 million.
• Insider sales at McKesson include significant transactions from CEO Brian S. Tyler and CAO Napoleon B. Rutledge, Jr., with total insider sales reaching over $16.7 million in the last ninety days.
• McKesson recently increased its quarterly dividend from $0.71 to $0.82, resulting in an annualized yield of 0.4% and a payout ratio of 13.08%.

Stanley Laman Group Ltd. lowered its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,624 shares of the company's stock after selling 2,804 shares during the quarter. Stanley Laman Group Ltd.'s holdings in McKesson were worth $4,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Northern Trust Corp grew its position in shares of McKesson by 0.7% in 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 grew its holdings in McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company's stock worth $984,927,000 after purchasing an additional 365,484 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $868,237,000 after purchasing an additional 107,638 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 valued at $864,712,000 after purchasing an additional 181,831 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of McKesson by 0.7% in the 1st quarter. Invesco Ltd. now owns 1,061,744 shares of the company's stock worth $714,543,000 after purchasing an additional 7,108 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

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

McKesson Stock Performance

NYSE:MCK opened at $788.27 on Friday. The firm's fifty day moving average is $716.48 and its two-hundred day moving average is $709.96. The firm has a market cap of $98.05 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 1.40 and a beta of 0.52. McKesson Corporation has a one year low of $492.39 and a one year high of $793.97.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business earned $7.88 earnings per share. As a group, equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup increased their price target on McKesson from $820.00 to $860.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Wells Fargo & Company boosted their target price on shares of McKesson from $772.00 to $816.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 24th. UBS Group lifted their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Finally, Mizuho boosted their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $834.54.

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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