LVW Advisors LLC Sells 746 Shares of McKesson Co. (NYSE:MCK)

LVW Advisors LLC reduced its stake in McKesson Co. (NYSE:MCK) by 42.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,018 shares of the company’s stock after selling 746 shares during the quarter. LVW Advisors LLC’s holdings in McKesson were worth $595,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MCK. Transform Wealth LLC boosted its position in McKesson by 3.3% in the second quarter. Transform Wealth LLC now owns 20,478 shares of the company’s stock valued at $11,972,000 after buying an additional 652 shares in the last quarter. Park National Corp OH grew its holdings in McKesson by 20.6% during the 2nd quarter. Park National Corp OH now owns 18,671 shares of the company’s stock worth $10,905,000 after acquiring an additional 3,189 shares during the period. Granite Bay Wealth Management LLC bought a new stake in shares of McKesson in the 2nd quarter valued at $3,507,000. RFG Advisory LLC boosted its position in shares of McKesson by 12.8% during the 2nd quarter. RFG Advisory LLC now owns 2,131 shares of the company’s stock worth $1,245,000 after purchasing an additional 241 shares in the last quarter. Finally, InTrack Investment Management Inc grew its position in McKesson by 98.1% in the 2nd quarter. InTrack Investment Management Inc now owns 2,964 shares of the company’s stock valued at $1,731,000 after purchasing an additional 1,468 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other McKesson news, Director Maria Martinez sold 483 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Martinez sold 483 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The disclosure for this sale can be found here. Insiders have sold a total of 32,713 shares of company stock valued at $18,702,605 in the last 90 days. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

MCK traded up $2.58 during trading on Tuesday, reaching $553.58. 90,452 shares of the stock traded hands, compared to its average volume of 734,560. The stock has a market cap of $71.93 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45. McKesson Co. has a fifty-two week low of $404.72 and a fifty-two week high of $637.51. The stock’s 50-day simple moving average is $591.00 and its two-hundred day simple moving average is $551.49.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.27 EPS. Research analysts anticipate that McKesson Co. will post 31.68 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.51%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MCK shares. Morgan Stanley upped their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company raised their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Bank of America raised their price objective on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI reduced their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup increased their price target on shares of McKesson from $620.00 to $670.00 and gave the company a “buy” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $609.79.

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.