McKesson Corporation $MCK Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC grew its position in McKesson Corporation (NYSE:MCK) by 25.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,263 shares of the company’s stock after purchasing an additional 4,468 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in McKesson were worth $16,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GFG Capital LLC acquired a new position in shares of McKesson in the 2nd quarter valued at about $30,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after buying an additional 41 shares during the period. Bank of Jackson Hole Trust raised its holdings in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares during the period. Saudi Central Bank purchased a new stake in shares of McKesson during the 1st quarter valued at about $34,000. Finally, Flaharty Asset Management LLC purchased a new stake in shares of McKesson during the 1st quarter valued at about $39,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

McKesson Stock Up 0.8%

MCK stock opened at $763.89 on Friday. McKesson Corporation has a 52-week low of $492.39 and a 52-week high of $776.14. The stock’s 50 day moving average is $707.48 and its two-hundred day moving average is $706.39. The company has a market capitalization of $95.01 billion, a PE ratio of 30.46, a P/E/G ratio of 1.38 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. During the same quarter in the prior year, the firm earned $7.88 earnings per share. McKesson’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MCK shares. Morgan Stanley raised their target price on McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. UBS Group raised their target price on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Evercore ISI raised their target price on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a report on Wednesday. Finally, Mizuho raised their target price on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $829.08.

McKesson 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.