Venture Visionary Partners LLC Sells 1,134 Shares of McKesson Corporation $MCK

Key Points

• Venture Visionary Partners LLC sold 1,134 shares of McKesson Corporation, reducing their holdings by 55.1%, leaving them with 924 shares worth $622,000.
• In addition to Venture Visionary, other large investors like CBIZ Investment Advisory Services and Bank of Jackson Hole Trust significantly increased their positions in McKesson during the first quarter.
• McKesson has announced a dividend increase, raising its quarterly payout from $0.71 to $0.82, reflecting a positive change in its dividend yield which stands at 0.5%.

Venture Visionary Partners LLC lowered its position in McKesson Corporation (NYSE:MCK - Free Report) by 55.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 924 shares of the company's stock after selling 1,134 shares during the period. Venture Visionary Partners LLC's holdings in McKesson were worth $622,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC grew its holdings in shares of McKesson by 1,366.7% in the first 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 period. Capital A Wealth Management LLC bought a new stake in shares of McKesson in the fourth quarter worth $26,000. Bank of Jackson Hole Trust grew its holdings in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after acquiring an additional 18 shares during the period. Pandora Wealth Inc. bought a new stake in shares of McKesson in the first quarter worth $40,000. Finally, Dagco Inc. bought a new stake in shares of McKesson in the first quarter worth $47,000. Institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 341 shares of McKesson stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president directly owned 2,800 shares of the company's stock, valued at approximately $2,010,148. The trade was a 10.86% 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, CFO Britt J. Vitalone sold 1,878 shares of McKesson stock in a transaction dated Wednesday, May 28th. The stock was 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 in the company, valued at $10,070,841.48. This trade represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,620 shares of company stock valued at $39,712,388. Insiders own 0.08% of the company's stock.

McKesson Stock Up 3.7%

Shares of McKesson stock opened at $701.8560 on Thursday. The stock's 50-day simple moving average is $707.96 and its 200-day simple moving average is $683.29. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The company has a market capitalization of $87.30 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.35 and a beta of 0.50.

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

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. McKesson's dividend payout ratio (DPR) is presently 11.32%.

Analyst Ratings Changes

MCK has been the topic of several analyst reports. UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Evercore ISI lifted their target price on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their target price on McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 13th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.