Vestor Capital LLC Increases Stock Holdings in McKesson Co. (NYSE:MCK)

Vestor Capital LLC boosted its position in McKesson Co. (NYSE:MCKGet Rating) by 63.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,008 shares of the company’s stock after acquiring an additional 33,934 shares during the period. McKesson accounts for about 2.6% of Vestor Capital LLC’s holdings, making the stock its 9th biggest position. Vestor Capital LLC owned approximately 0.06% of McKesson worth $26,636,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Cornerstone Advisory LLC purchased a new stake in shares of McKesson in the fourth quarter worth approximately $25,000. Riverview Trust Co purchased a new stake in shares of McKesson in the first quarter worth approximately $28,000. Lansing Street Advisors purchased a new stake in shares of McKesson in the first quarter worth approximately $31,000. EverSource Wealth Advisors LLC purchased a new stake in shares of McKesson in the fourth quarter worth approximately $37,000. Finally, Benjamin Edwards Inc. purchased a new stake in shares of McKesson in the fourth quarter worth approximately $38,000. Institutional investors own 85.45% of the company’s stock.

McKesson Price Performance

NYSE MCK traded up $8.88 during trading hours on Friday, reaching $346.69. 1,166,640 shares of the stock traded hands, compared to its average volume of 897,871. The stock has a 50 day simple moving average of $324.08 and a two-hundred day simple moving average of $306.13. McKesson Co. has a 1 year low of $192.38 and a 1 year high of $348.49. The company has a market cap of $49.78 billion, a price-to-earnings ratio of 36.65, a price-to-earnings-growth ratio of 1.52 and a beta of 0.63.

McKesson (NYSE:MCKGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $5.83 earnings per share for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.23). The firm had revenue of $66.10 billion for the quarter, compared to analysts’ expectations of $63.82 billion. McKesson had a net margin of 0.52% and a negative return on equity of 350.22%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.05 EPS. On average, sell-side analysts forecast that McKesson Co. will post 23.27 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $2.16 annualized dividend and a dividend yield of 0.62%. This is an increase from McKesson’s previous quarterly dividend of $0.47. McKesson’s payout ratio is currently 19.87%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 5,438 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $330.93, for a total transaction of $1,799,597.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other McKesson news, CEO Brian S. Tyler sold 1,535 shares of McKesson stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $305.20, for a total transaction of $468,482.00. Following the sale, the chief executive officer now directly owns 75,737 shares of the company’s stock, valued at approximately $23,114,932.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 5,438 shares of McKesson stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $330.93, for a total value of $1,799,597.34. The disclosure for this sale can be found here. Insiders have sold a total of 72,628 shares of company stock worth $23,779,745 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCK. Mizuho increased their price target on McKesson from $331.00 to $345.00 and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird increased their price objective on McKesson from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday. Cowen increased their price objective on McKesson from $325.00 to $361.00 in a report on Monday, April 18th. UBS Group raised their price target on McKesson from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Cowen raised their price target on McKesson from $325.00 to $361.00 and gave the stock an “outperform” rating in a report on Monday, April 18th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $332.85.

McKesson Profile

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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