McKesson Corporation $MCK Shares Sold by Sarver Vrooman Wealth Advisors

Sarver Vrooman Wealth Advisors lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 32.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80 shares of the company’s stock after selling 38 shares during the quarter. Sarver Vrooman Wealth Advisors’ holdings in McKesson were worth $59,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in shares of McKesson by 54.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock valued at $3,056,000 after acquiring an additional 1,592 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock valued at $524,000 after acquiring an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock valued at $15,501,000 after acquiring an additional 3,659 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock valued at $123,332,000 after acquiring an additional 7,556 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after acquiring an additional 68,294 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Cowen restated a “buy” rating on shares of McKesson in a report on Thursday, August 7th. Evercore ISI lifted their price target on shares of McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their price target on shares of McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $725.10.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 19,371 shares of the firm’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock worth $30,438,602 in the last 90 days. 0.08% of the stock is owned by insiders.

McKesson Stock Down 1.3%

MCK stock opened at $702.38 on Tuesday. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89. The company has a market cap of $87.36 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.41 and a beta of 0.51. The company has a 50 day moving average of $697.15 and a two-hundred day moving average of $695.41.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.88 EPS. On average, research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is 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.