Vontobel Holding Ltd. Sells 9,548 Shares of McKesson Corporation $MCK

Vontobel Holding Ltd. lessened its holdings in McKesson Corporation (NYSE:MCK) by 24.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,588 shares of the company’s stock after selling 9,548 shares during the period. Vontobel Holding Ltd.’s holdings in McKesson were worth $22,858,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MCK. MassMutual Private Wealth & Trust FSB raised its stake in shares of McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC boosted its position in shares of McKesson by 2.2% during the second quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after buying an additional 14 shares during the last quarter. Cypress Wealth Services LLC grew its holdings in McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after buying an additional 15 shares in the last quarter. HBK Sorce Advisory LLC raised its position in McKesson by 1.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after buying an additional 16 shares during the last quarter. Finally, Valmark Advisers Inc. grew its stake in shares of McKesson by 2.1% in the 2nd quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock worth $618,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCK. JPMorgan Chase & Co. increased their price objective on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Morgan Stanley upped their target price on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. TD Cowen lifted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Robert W. Baird upped their price objective on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $892.86.

Insider Activity

In related news, 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 sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by company insiders.

McKesson Trading Up 0.1%

McKesson stock opened at $826.43 on Thursday. The business’s 50 day simple moving average is $828.80 and its 200 day simple moving average is $754.10. McKesson Corporation has a 12 month low of $565.75 and a 12 month high of $895.58. The company has a market cap of $102.00 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 1.36 and a beta of 0.38.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same period last year, the business posted $7.07 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is 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.