McKesson Corporation $MCK Shares Bought by Vest Financial LLC

Vest Financial LLC raised its holdings in McKesson Corporation (NYSE:MCK) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,871 shares of the company’s stock after purchasing an additional 1,012 shares during the period. Vest Financial LLC’s holdings in McKesson were worth $11,488,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MCK. Solstein Capital LLC lifted its position in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares in the last quarter. State of Wyoming acquired a new position in McKesson in the 2nd quarter valued at about $29,000. GFG Capital LLC purchased a new position in McKesson in the 2nd quarter valued at about $30,000. Delos Wealth Advisors LLC acquired a new stake in shares of McKesson during the 2nd quarter worth about $35,000. Finally, Abound Wealth Management grew its holdings in shares of McKesson by 104.3% during the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after buying an additional 24 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of NYSE:MCK opened at $823.29 on Thursday. The firm has a 50 day simple moving average of $832.06 and a 200 day simple moving average of $768.83. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58. The company has a market cap of $101.62 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $7.07 EPS. On average, equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $0.82 per share. The ex-dividend date was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at $1,851,096.24. This represents a 10.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. JPMorgan Chase & Co. lifted their price objective on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Bank of America lifted their price target on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $895.79.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.