McKesson Corporation $MCK Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in McKesson Corporation (NYSE:MCK) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 72,140 shares of the company’s stock after selling 2,701 shares during the period. Truist Financial Corp owned approximately 0.06% of McKesson worth $55,731,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MCK. EPG Wealth Management LLC increased its position in McKesson by 5.3% in the 3rd quarter. EPG Wealth Management LLC now owns 2,412 shares of the company’s stock valued at $1,864,000 after acquiring an additional 122 shares during the period. DSG Capital Advisors LLC grew its stake in shares of McKesson by 97.7% in the third quarter. DSG Capital Advisors LLC now owns 1,570 shares of the company’s stock worth $1,213,000 after purchasing an additional 776 shares in the last quarter. Barlow Wealth Partners Inc. acquired a new position in shares of McKesson during the third quarter valued at $12,640,000. Paragon Private Wealth Management LLC raised its stake in shares of McKesson by 8.0% during the third quarter. Paragon Private Wealth Management LLC now owns 618 shares of the company’s stock valued at $478,000 after purchasing an additional 46 shares in the last quarter. Finally, Northstar Advisory Group LLC acquired a new stake in McKesson in the third quarter worth about $1,226,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Robert W. Baird set a $968.00 price target on shares of McKesson in a research report on Wednesday, January 14th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group upped their target price on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research note on Monday, December 29th. Two research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $895.79.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the sale, the executive vice president owned 2,268 shares in the company, valued at $1,851,096.24. The trade was a 10.85% 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 company’s stock in a transaction that occurred on Friday, November 7th. The shares were 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 owned 328 shares of the company’s stock, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The SEC filing for this sale provides additional information. 0.08% of the stock is currently owned by insiders.

McKesson Stock Performance

McKesson stock opened at $826.18 on Thursday. The firm has a market cap of $101.98 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.37 and a beta of 0.41. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58. The firm’s 50 day moving average price is $829.36 and its two-hundred day moving average price is $772.43.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.07 EPS. As a group, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

McKesson Profile

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.