McKesson Co. (NYSE:MCK) Shares Sold by Candriam S.C.A.

Candriam S.C.A. decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 23.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,934 shares of the company’s stock after selling 26,112 shares during the period. Candriam S.C.A. owned approximately 0.07% of McKesson worth $50,771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MCK. RFP Financial Group LLC lifted its stake in McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after purchasing an additional 17 shares during the period. Modera Wealth Management LLC boosted its stake in McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after buying an additional 17 shares in the last quarter. Larson Financial Group LLC boosted its stake in McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares in the last quarter. First Western Trust Bank raised its stake in McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after acquiring an additional 18 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of McKesson by 1.7% during the first quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $504.17 on Friday. The stock has a market cap of $65.51 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.29 and a beta of 0.44. The company has a 50 day moving average of $574.75 and a 200-day moving average of $557.29. McKesson Co. has a one year low of $412.64 and a one year high of $637.51.

McKesson (NYSE:MCK) last issued its 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. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the previous year, the company posted $7.27 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that McKesson Co. will post 32.14 earnings per share for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total value of $2,180,192.76. Following the completion of the sale, the chief executive officer now directly owns 86,092 shares in the company, valued at $50,012,564.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the sale, the executive vice president now directly owns 2,022 shares in the company, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Insiders sold a total of 11,859 shares of company stock valued at $6,986,810 in the last ninety days. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MCK shares. JPMorgan Chase & Co. increased their target price 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. Barclays lifted their target price on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Citigroup increased their price target on McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Leerink Partners cut their price objective on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Argus increased their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $624.93.

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.