McKesson Corporation $MCK Shares Sold by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super reduced its position in McKesson Corporation (NYSE:MCK) by 63.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,000 shares of the company’s stock after selling 10,298 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super’s holdings in McKesson were worth $4,397,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its holdings in McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares in the last quarter. Palisade Asset Management LLC lifted its stake in shares of McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after purchasing an additional 15 shares in the last quarter. SteelPeak Wealth LLC boosted its position in shares of McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after buying an additional 15 shares during the period. Cypress Wealth Services LLC grew its stake in shares of McKesson by 3.7% in the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after buying an additional 15 shares in the last quarter. Finally, Keystone Financial Services grew its stake in shares of McKesson by 1.2% in the first quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock valued at $945,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 1.2%

Shares of NYSE:MCK opened at $791.40 on Thursday. The firm has a market cap of $98.43 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The company has a fifty day simple moving average of $711.83 and a 200 day simple moving average of $708.47. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $792.34.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.82 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s dividend payout ratio is presently 13.08%.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock worth $16,722,190 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MCK. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Jefferies Financial Group boosted their target price on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday. Leerink Partners raised their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Evercore ISI lifted their price target 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. Finally, JPMorgan Chase & Co. upped 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, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $834.54.

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.