U.S. Capital Wealth Advisors LLC Trims Position in McKesson Co. (NYSE:MCK)

U.S. Capital Wealth Advisors LLC decreased its position in shares of McKesson Co. (NYSE:MCK) by 5.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,640 shares of the company’s stock after selling 154 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in McKesson were worth $1,542,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after acquiring an additional 46,659 shares during the last quarter. Norges Bank bought a new stake in shares of McKesson in the fourth quarter worth about $1,024,140,000. Putnam Investments LLC boosted its stake in McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after buying an additional 62,242 shares during the last quarter. Swedbank AB purchased a new position in McKesson during the 1st quarter valued at approximately $669,326,000. Finally, Boston Partners increased its stake in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after acquiring an additional 47,140 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CFO Britt J. Vitalone sold 12,752 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $7,116,763.68. Following the sale, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at approximately $7,828,886.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was 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 directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Britt J. Vitalone sold 12,752 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $7,116,763.68. Following the completion of the transaction, the chief financial officer now directly owns 14,028 shares in the company, valued at approximately $7,828,886.52. The disclosure for this sale can be found here. Insiders have sold a total of 32,714 shares of company stock valued at $18,703,160 in the last ninety days. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MCK shares. Citigroup raised their target price on shares of McKesson from $620.00 to $670.00 and gave the company a “buy” rating in a report on Friday, July 19th. UBS Group raised their price objective on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Evercore ISI decreased their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday. TD Cowen increased their target price on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company boosted their target price on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $601.47.

McKesson Price Performance

NYSE:MCK traded down $6.36 during midday trading on Friday, hitting $541.15. The company’s stock had a trading volume of 1,742,142 shares, compared to its average volume of 736,197. The firm’s 50 day moving average is $591.44 and its 200-day moving average is $550.12. McKesson Co. has a fifty-two week low of $404.72 and a fifty-two week high of $637.51. The firm has a market cap of $70.31 billion, a P/E ratio of 24.18, a P/E/G ratio of 1.46 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same period last year, the company earned $7.27 earnings per share. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, analysts forecast that McKesson Co. will post 31.68 EPS for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

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.