Veracity Capital LLC Cuts Stock Holdings in McKesson Co. (NYSE:MCK)

Veracity Capital LLC cut its stake in McKesson Co. (NYSE:MCK) by 44.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,344 shares of the company’s stock after selling 1,082 shares during the period. Veracity Capital LLC’s holdings in McKesson were worth $722,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Douglass Winthrop Advisors LLC increased its position in shares of McKesson by 1.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock valued at $700,000 after purchasing an additional 21 shares during the last quarter. Addison Advisors LLC increased its holdings in McKesson by 7.9% in the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock valued at $138,000 after buying an additional 22 shares during the last quarter. Evergreen Wealth Solutions LLC lifted its holdings in McKesson by 1.2% during the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock worth $894,000 after buying an additional 22 shares during the last quarter. RMR Wealth Builders boosted its position in shares of McKesson by 5.2% during the 1st quarter. RMR Wealth Builders now owns 464 shares of the company’s stock worth $249,000 after acquiring an additional 23 shares in the last quarter. Finally, Keystone Financial Services increased its holdings in shares of McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays increased their price target on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley lifted their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Argus upped their target price on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, UBS Group lifted their price target on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $590.47.

McKesson Trading Down 0.3 %

Shares of NYSE:MCK traded down $1.48 during midday trading on Thursday, hitting $583.35. The stock had a trading volume of 313,911 shares, compared to its average volume of 619,046. McKesson Co. has a 1 year low of $395.30 and a 1 year high of $612.17. The stock has a 50 day moving average price of $569.08 and a two-hundred day moving average price of $527.93. The company has a market capitalization of $75.80 billion, a PE ratio of 26.07, a P/E/G ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.19 EPS. As a group, equities analysts expect that McKesson Co. will post 31.54 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is 11.08%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Susan R. Salka sold 606 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The disclosure for this sale can be found here. Insiders have sold 25,814 shares of company stock valued at $14,511,649 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

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.