US Bancorp DE Sells 3,076 Shares of McKesson Corporation (NYSE:MCK)

Key Points

• US Bancorp DE reduced its holdings in McKesson Corporation by 3.5%, selling 3,076 shares, while still owning approximately 85,759 shares valued at $57.7 million.
• McKesson reported an earnings per share (EPS) of $10.12 for the last quarter, exceeding analysts' expectations, but its revenue was below estimates at $90.82 billion.
• The company declared a quarterly dividend of $0.82 per share, marking an increase from its previous dividend, reflecting a dividend yield of 0.5%.

US Bancorp DE trimmed its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,759 shares of the company's stock after selling 3,076 shares during the period. US Bancorp DE owned about 0.07% of McKesson worth $57,716,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in McKesson in the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC increased its holdings in McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in McKesson by 1,840.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock worth $67,000 after acquiring an additional 92 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in McKesson in the 4th quarter worth about $76,000. Finally, Itau Unibanco Holding S.A. increased its holdings in McKesson by 350.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 144 shares of the company's stock worth $82,000 after acquiring an additional 112 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 0.7%

Shares of NYSE MCK opened at $698.43 on Friday. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The firm has a market capitalization of $87.38 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.40 and a beta of 0.50. The business has a 50-day moving average of $716.58 and a 200-day moving average of $675.60.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the business earned $6.18 earnings per share. On average, analysts predict 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. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. This is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson's payout ratio is 10.99%.

Insider Activity

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president owned 2,544 shares in the company, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the sale, the chief executive officer owned 27,872 shares of the company's stock, valued at $19,735,884.48. The trade was a 41.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,488 shares of company stock valued at $37,242,862. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $810.00 target price (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. 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. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $710.17.

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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