McKesson Co. (NYSE:MCK) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its stake in McKesson Co. (NYSE:MCK) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,076 shares of the company’s stock after selling 718 shares during the quarter. Ensign Peak Advisors Inc owned about 0.09% of McKesson worth $64,873,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in McKesson in the first quarter valued at about $28,000. Register Financial Advisors LLC acquired a new position in McKesson in the first quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new position in McKesson in the fourth quarter valued at about $31,000. Rise Advisors LLC acquired a new position in McKesson in the first quarter valued at about $40,000. Finally, Carolinas Wealth Consulting LLC lifted its position in McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MCK shares. Evercore ISI reduced their price target 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. Citigroup reduced their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Argus increased their price target on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Down 0.0 %

Shares of McKesson stock opened at $508.00 on Friday. The firm has a market capitalization of $66.01 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm’s 50 day moving average is $560.25 and its two-hundred day moving average is $557.01.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $7.27 earnings per share. As a group, research analysts expect that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a $0.71 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio is currently 12.69%.

McKesson Company 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.