McKesson Corporation $MCK Stock Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 12.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,973 shares of the company’s stock after selling 4,635 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in McKesson were worth $27,308,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. Nvwm LLC raised its stake in McKesson by 933.3% in the 3rd quarter. Nvwm LLC now owns 31 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Delos Wealth Advisors LLC purchased a new position in McKesson in the 2nd quarter worth approximately $27,000. Trellis Wealth Advisors LLC purchased a new stake in shares of McKesson in the third quarter valued at approximately $32,000. GK Wealth Management LLC acquired a new stake in shares of McKesson in the third quarter valued at approximately $38,000. Finally, Curry Webb Wealth Management LLC purchased a new position in McKesson during the third quarter worth approximately $38,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other McKesson news, EVP Francisco Fraga sold 650 shares of McKesson stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total value of $716,924.00. Following the completion of the sale, the executive vice president directly owned 4,414 shares of the company’s stock, valued at approximately $4,868,465.44. The trade was a 12.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 2,161 shares of company stock valued at $2,242,515. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Up 2.4%

Shares of NYSE MCK opened at $1,103.31 on Friday. The business has a 50-day moving average price of $955.45 and a 200 day moving average price of $874.53. The stock has a market cap of $127.39 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 1.82 and a beta of 0.27. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $1,121.50.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, topping the consensus estimate of $10.72 by $0.96. McKesson had a net margin of 1.12% and a negative return on equity of 202.94%. The business had revenue of $110.96 billion during the quarter, compared to the consensus estimate of $109.90 billion. During the same quarter in the prior year, the firm earned $9.86 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts anticipate that McKesson Corporation will post 46.16 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, December 1st. McKesson’s dividend payout ratio is currently 9.67%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Weiss Ratings upgraded shares of McKesson from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Evercore reiterated an “outperform” rating and issued a $950.00 price objective (down from $1,000.00) on shares of McKesson in a report on Thursday, August 6th. Royal Bank Of Canada upped their price target on McKesson from $845.00 to $965.00 and gave the company a “sector perform” rating in a research note on Thursday, November 5th. Finally, Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,040.29.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.