Vanguard Group Inc. Has $6.46 Billion Stake in McKesson Co. (NYSE:MCK)

Vanguard Group Inc. trimmed its stake in McKesson Co. (NYSE:MCK) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,041,808 shares of the company’s stock after selling 104,327 shares during the period. Vanguard Group Inc. owned about 0.09% of McKesson worth $6,464,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BKM Wealth Management LLC bought a new position in shares of McKesson during the 4th quarter worth about $31,000. Dynamic Advisor Solutions LLC bought a new position in shares of McKesson during the 4th quarter worth about $243,000. OneAscent Financial Services LLC lifted its holdings in shares of McKesson by 69.6% during the 4th quarter. OneAscent Financial Services LLC now owns 1,287 shares of the company’s stock worth $596,000 after acquiring an additional 528 shares during the period. Insight Wealth Strategies LLC bought a new position in shares of McKesson during the 4th quarter worth about $1,813,000. Finally, Advisor Resource Council lifted its holdings in shares of McKesson by 441.6% during the 4th quarter. Advisor Resource Council now owns 5,096 shares of the company’s stock worth $2,360,000 after acquiring an additional 4,155 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. Argus raised their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Evercore ISI lifted their price target on shares of McKesson from $600.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. UBS Group lifted their price target on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Bank of America lifted their price target on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Barclays lifted their price target on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $599.33.

McKesson Stock Performance

MCK traded up $1.70 during midday trading on Friday, hitting $580.13. The company had a trading volume of 562,156 shares, compared to its average volume of 675,472. The company has a market capitalization of $75.38 billion, a PE ratio of 25.92, a P/E/G ratio of 1.35 and a beta of 0.45. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $612.17. The firm’s 50-day simple moving average is $579.20 and its 200-day simple moving average is $538.53.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.19 EPS. As a group, sell-side analysts anticipate that McKesson Co. will post 31.67 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, June 3rd. McKesson’s dividend payout ratio is 11.08%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Insiders sold a total of 29,567 shares of company stock worth $16,691,841 in the last quarter. 0.11% of the stock is owned by company 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.