McKesson Corporation $MCK Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its stake in McKesson Corporation (NYSE:MCK) by 5.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,879 shares of the company’s stock after purchasing an additional 137 shares during the quarter. Venturi Wealth Management LLC’s holdings in McKesson were worth $2,110,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MCK. Nuveen LLC acquired a new position in shares of McKesson in the 1st quarter worth approximately $475,235,000. Wellington Management Group LLP increased its stake in McKesson by 4,559.6% during the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after buying an additional 418,524 shares during the period. Boston Partners increased its stake in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after buying an additional 365,484 shares during the period. Voya Investment Management LLC increased its stake in McKesson by 92.3% during the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after buying an additional 312,473 shares during the period. Finally, 1832 Asset Management L.P. purchased a new stake in McKesson during the 1st quarter worth approximately $140,742,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were 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 owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent research reports. Evercore ISI upped their target price on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Morgan Stanley increased their price objective on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Bank of America increased their price objective on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, 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 report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $829.08.

McKesson Price Performance

NYSE MCK opened at $750.13 on Wednesday. The firm’s fifty day moving average price is $704.07 and its 200 day moving average price is $704.37. The company has a market capitalization of $93.30 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 1.34 and a beta of 0.52. McKesson Corporation has a 12 month low of $486.77 and a 12 month high of $776.14.

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

McKesson Increases Dividend

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

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.