Vanguard Personalized Indexing Management LLC Grows Position in McKesson Corporation $MCK

Vanguard Personalized Indexing Management LLC boosted its holdings in McKesson Corporation (NYSE:MCK) by 25.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,263 shares of the company’s stock after acquiring an additional 4,468 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in McKesson were worth $16,321,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in shares of McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock valued at $3,056,000 after buying an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock valued at $524,000 after buying an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock valued at $15,501,000 after buying an additional 3,659 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after buying an additional 68,294 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of McKesson by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock valued at $123,332,000 after buying an additional 7,556 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a research report on Wednesday. TD Cowen lifted their price objective on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. lifted their price objective on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Finally, Morgan Stanley lifted their price objective on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $829.08.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was 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 directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by corporate insiders.

McKesson Trading Up 0.8%

Shares of NYSE:MCK opened at $763.89 on Friday. The stock’s 50-day moving average price is $707.48 and its two-hundred day moving average price is $706.39. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $776.14. The firm has a market cap of $95.01 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 1.38 and a beta of 0.52.

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

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend 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.