McKesson Co. (NYSE:MCK) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its position in McKesson Co. (NYSE:MCK) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 846,039 shares of the company’s stock after selling 5,780 shares during the period. McKesson makes up 1.6% of Acadian Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. Acadian Asset Management LLC owned 0.64% of McKesson worth $454,157,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new stake in McKesson in the fourth quarter valued at $31,000. Dynamic Advisor Solutions LLC purchased a new stake in McKesson during the fourth quarter worth about $243,000. OneAscent Financial Services LLC grew its position in McKesson by 69.6% during the fourth quarter. OneAscent Financial Services LLC now owns 1,287 shares of the company’s stock worth $596,000 after buying an additional 528 shares during the period. Insight Wealth Strategies LLC purchased a new position in McKesson in the fourth quarter valued at about $1,813,000. Finally, Advisor Resource Council lifted its position in shares of McKesson by 441.6% during the 4th quarter. Advisor Resource Council now owns 5,096 shares of the company’s stock valued at $2,360,000 after acquiring an additional 4,155 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK traded up $1.70 during trading hours on Friday, hitting $580.13. 562,156 shares of the company’s stock were exchanged, compared to its average volume of 675,472. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17. The business’s 50 day moving average is $579.20 and its 200-day moving average is $538.53. The firm has a market capitalization of $75.38 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 1.35 and a beta of 0.45.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Morgan Stanley increased their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Barclays lifted their target price on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Evercore ISI increased their price target on shares of McKesson from $600.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Finally, Bank of America lifted their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $599.33.

Insider Activity at McKesson

In related news, CFO Britt J. Vitalone sold 894 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the transaction, the chief financial officer now owns 16,455 shares in the company, valued at $9,172,017. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Leann B. Smith sold 704 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $392,895.36. Following the transaction, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at approximately $1,236,169.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the transaction, the chief financial officer now owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,567 shares of company stock worth $16,691,841. 0.11% of the stock is owned by insiders.

About McKesson

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.