Value Partners Investments Inc. Sells 798 Shares of McKesson Corporation $MCK

Key Points

• Value Partners Investments Inc. reduced its stake in McKesson Corporation by 18.5% in the second quarter, owning 3,507 shares after selling 798 shares during that period.
• McKesson recently reported earnings of $8.26 per share, missing consensus estimates by $0.07, with revenue of $97.83 billion for the quarter, reflecting a 23.4% year-over-year increase.
• The company announced a quarterly dividend of $0.82, an increase from the previous $0.71, resulting in an annualized dividend yield of 0.5%.

Value Partners Investments Inc. cut its position in McKesson Corporation (NYSE:MCK - Free Report) by 18.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,507 shares of the company's stock after selling 798 shares during the period. Value Partners Investments Inc.'s holdings in McKesson were worth $2,566,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after buying an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after purchasing an additional 111 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised 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 valued at $15,501,000 after purchasing an additional 3,659 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company's stock valued at $254,979,000 after purchasing an additional 68,294 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised 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 valued at $123,332,000 after purchasing an additional 7,556 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK traded up $7.72 during mid-day trading on Friday, reaching $697.85. The stock had a trading volume of 313,281 shares, compared to its average volume of 866,313. The firm has a market cap of $86.80 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.38 and a beta of 0.51. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The business has a fifty day moving average of $695.36 and a 200 day moving average of $695.68.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.88 earnings per share. On average, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson's dividend payout ratio (DPR) is currently 13.08%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the company'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 transaction, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares of the company's stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,560 shares of company stock valued at $30,438,602. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MCK shares. Morgan Stanley reissued an "overweight" rating and set a $810.00 price objective (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Cowen reissued a "buy" rating on shares of McKesson in a report on Thursday, August 7th. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Wells Fargo & Company boosted their price objective on shares of McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Finally, Evercore ISI boosted their target price on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $725.10.

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.