Truist Financial Corp Buys 2,243 Shares of McKesson Corporation (NYSE:MCK)

Truist Financial Corp boosted its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,030 shares of the company's stock after purchasing an additional 2,243 shares during the period. Truist Financial Corp owned about 0.06% of McKesson worth $49,148,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its stake in McKesson by 54.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after purchasing an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after purchasing an additional 111 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock worth $15,501,000 after buying an additional 3,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock worth $123,332,000 after buying an additional 7,556 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in shares of McKesson by 6.3% during the first quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock worth $659,000 after buying an additional 58 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of MCK stock traded down $11.48 on Tuesday, hitting $723.85. The company had a trading volume of 554,461 shares, compared to its average volume of 927,577. The stock's 50-day moving average is $714.88 and its two-hundred day moving average is $659.39. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.97. The firm has a market cap of $90.56 billion, a P/E ratio of 28.02, a P/E/G ratio of 1.47 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $94 billion. During the same quarter last year, the firm posted $6.18 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. Equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the sale, the chief executive officer owned 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 1,878 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $1,348,234.98. Following the completion of the sale, the chief financial officer directly owned 14,028 shares of the company's stock, valued at $10,070,841.48. This trade represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock valued at $23,526,451 over the last ninety days. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their price target on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, UBS Group upped their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $696.42.

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.