Vest Financial LLC Sells 1,570 Shares of McKesson Corporation $MCK

Key Points

• Vest Financial LLC reduced its stake in McKesson Corporation (MCK) by 10.2% during the second quarter, selling 1,570 shares to hold a total of 13,859 shares valued at approximately $10.16 million.
• Multiple institutional investors, including Oppenheimer Asset Management and Dynami Advisor Solutions, recently increased their holdings in McKesson, indicating robust interest and confidence in the stock.
• Analysts have raised price targets for McKesson, with upgrades from various firms leading to a consensus price target of $834.54 and an average rating of "Moderate Buy".

Vest Financial LLC reduced its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 10.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,859 shares of the company's stock after selling 1,570 shares during the period. Vest Financial LLC's holdings in McKesson were worth $10,156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Oppenheimer Asset Management Inc. lifted its stake in shares of McKesson by 54.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after buying an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in McKesson by 16.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after buying an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in McKesson by 18.9% in the 1st 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 during the period. Acadian Asset Management LLC boosted its holdings in McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company's stock worth $254,979,000 after buying an additional 68,294 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in McKesson by 4.3% in the 1st 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 during the period. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

MCK has been the subject of several analyst reports. Wall Street Zen raised shares of McKesson from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. Evercore ISI raised their price objective on shares of McKesson from $800.00 to $825.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Citigroup raised their price target on shares of McKesson from $820.00 to $860.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Finally, Morgan Stanley raised their price target on shares of McKesson from $810.00 to $857.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $834.54.

McKesson Price Performance

Shares of NYSE:MCK opened at $768.79 on Tuesday. The firm has a fifty day moving average price of $708.64 and a two-hundred day moving average price of $707.37. McKesson Corporation has a one year low of $492.39 and a one year high of $776.14. The company has a market cap of $95.62 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.38 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share 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 analysts' expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business's quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.88 EPS. Equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

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

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by corporate insiders.

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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