McKesson Co. (NYSE:MCK) Shares Sold by Versant Capital Management Inc

Versant Capital Management Inc reduced its holdings in McKesson Co. (NYSE:MCKFree Report) by 48.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233 shares of the company’s stock after selling 223 shares during the quarter. Versant Capital Management Inc’s holdings in McKesson were worth $125,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Intrust Bank NA purchased a new position in McKesson in the fourth quarter valued at about $206,000. Raymond James & Associates raised its holdings in McKesson by 6.1% during the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock worth $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in McKesson by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares in the last quarter. Heritage Wealth Management LLC acquired a new stake in McKesson in the fourth quarter valued at $1,538,000. Finally, Insight Wealth Strategies LLC purchased a new position in shares of McKesson in the fourth quarter valued at $1,813,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE:MCK traded up $5.48 during trading hours on Tuesday, reaching $602.93. 446,414 shares of the company were exchanged, compared to its average volume of 705,227. McKesson Co. has a 52-week low of $395.30 and a 52-week high of $604.15. The stock has a 50 day simple moving average of $553.85 and a 200 day simple moving average of $517.58. The firm has a market cap of $78.37 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 1.38 and a beta of 0.47.

McKesson (NYSE:MCKGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $7.19 earnings per share. On average, analysts predict that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.41%. McKesson’s payout ratio is 11.08%.

Insider Buying and Selling at McKesson

In related news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Leann B. Smith sold 704 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the transaction, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Insiders have sold a total of 25,814 shares of company stock valued at $14,511,649 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MCK shares. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. SVB Leerink initiated coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective for the company. Wells Fargo & Company increased their target price on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Evercore ISI upped their price objective on McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $571.47.

Check Out Our Latest Analysis on McKesson

McKesson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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