McKesson Co. (NYSE:MCK) Shares Sold by Vestmark Advisory Solutions Inc.

Posted by Defense World Staff on Apr 2nd, 2023

Vestmark Advisory Solutions Inc. lessened its position in McKesson Co. (NYSE:MCK – Get Rating) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,221 shares of the company’s stock after selling 288 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in McKesson were worth $1,208,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MCK. WCM Investment Management LLC acquired a new stake in shares of McKesson in the 3rd quarter worth about $302,630,000. Arrowstreet Capital Limited Partnership increased its stake in McKesson by 53.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock valued at $280,399,000 after buying an additional 320,588 shares during the period. Canada Pension Plan Investment Board increased its stake in McKesson by 7,667.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 230,062 shares of the company’s stock valued at $78,191,000 after buying an additional 227,100 shares during the period. Great West Life Assurance Co. Can bought a new stake in McKesson during the third quarter worth approximately $73,045,000. Finally, First Republic Investment Management Inc. lifted its position in McKesson by 134.4% in the third quarter. First Republic Investment Management Inc. now owns 297,009 shares of the company’s stock worth $100,944,000 after purchasing an additional 170,299 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Nancy Avila sold 161 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the transaction, the executive vice president now owns 4,631 shares in the company, valued at approximately $1,713,562.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brian S. Tyler sold 7,416 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total transaction of $2,818,080.00. Following the transaction, the chief executive officer now directly owns 75,737 shares of the company’s stock, valued at $28,780,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Avila sold 161 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $370.02, for a total transaction of $59,573.22. Following the transaction, the executive vice president now directly owns 4,631 shares in the company, valued at $1,713,562.62. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MCK shares. UBS Group lowered their price target on McKesson from $450.00 to $440.00 and set a “buy” rating on the stock in a research report on Tuesday, January 31st. Morgan Stanley boosted their price target on shares of McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Citigroup initiated coverage on shares of McKesson in a research report on Friday. They set a “buy” rating and a $420.00 price objective for the company. StockNews.com initiated coverage on shares of McKesson in a report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Finally, Robert W. Baird raised their target price on shares of McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $416.64.

McKesson Price Performance

McKesson stock opened at $356.05 on Friday. McKesson Co. has a fifty-two week low of $298.69 and a fifty-two week high of $401.78. The firm’s 50 day simple moving average is $356.53 and its 200-day simple moving average is $365.41. The company has a market cap of $48.76 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.33 and a beta of 0.59.

McKesson (NYSE:MCK – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $6.90 EPS for the quarter, topping analysts’ consensus estimates of $6.36 by $0.54. McKesson had a net margin of 1.15% and a negative return on equity of 216.12%. The firm had revenue of $70.49 billion during the quarter, compared to analyst estimates of $70.98 billion. During the same quarter last year, the business posted $6.15 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that McKesson Co. will post 25.93 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Tuesday, February 28th. McKesson’s payout ratio is 9.88%.

About McKesson

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).