Zurcher Kantonalbank Zurich Cantonalbank Sells 16,234 Shares of McKesson Co. (NYSE:MCK)
Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of McKesson Co. (NYSE:MCK) by 31.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,059 shares of the company’s stock after selling 16,234 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in McKesson were worth $5,532,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Reilly Financial Advisors LLC grew its holdings in shares of McKesson by 198.5% during the 1st quarter. Reilly Financial Advisors LLC now owns 200 shares of the company’s stock valued at $27,000 after purchasing an additional 133 shares during the last quarter. Westside Investment Management Inc. grew its holdings in McKesson by 100.0% during the 2nd quarter. Westside Investment Management Inc. now owns 200 shares of the company’s stock worth $15,357,000 after acquiring an additional 100 shares during the last quarter. Trust Co. of Vermont grew its holdings in McKesson by 254.2% during the 1st quarter. Trust Co. of Vermont now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 150 shares during the last quarter. EPG Wealth Management LLC grew its holdings in McKesson by 75.2% during the 1st quarter. EPG Wealth Management LLC now owns 233 shares of the company’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Finally, OmniStar Financial Group Inc. bought a new stake in McKesson during the 1st quarter worth approximately $34,000. 79.19% of the stock is currently owned by institutional investors.
In other McKesson news, CFO Britt J. Vitalone sold 1,034 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $149.60, for a total transaction of $154,686.40. Following the completion of the sale, the chief financial officer now owns 1,048 shares in the company, valued at approximately $156,780.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lori A. Schechter sold 5,488 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $160.00, for a total transaction of $878,080.00. Following the sale, the executive vice president now owns 11,397 shares of the company’s stock, valued at approximately $1,823,520. The disclosure for this sale can be found here. Insiders have sold a total of 9,000 shares of company stock valued at $1,394,429 in the last 90 days. 0.28% of the stock is currently owned by company insiders.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, May 20th. The company reported $4.27 EPS for the quarter, beating the Zacks’ consensus estimate of $4.10 by $0.17. The business had revenue of $58.54 billion during the quarter, compared to analyst estimates of $55.60 billion. McKesson had a net margin of 0.39% and a return on equity of 41.07%. McKesson’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.69 EPS. Sell-side analysts expect that McKesson Co. will post 14.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from McKesson’s previous quarterly dividend of $0.41. McKesson’s payout ratio is 10.97%.
A number of research firms have weighed in on MCK. TheStreet raised shares of McKesson from a “c” rating to a “b” rating in a report on Wednesday, May 20th. Cowen boosted their target price on shares of McKesson from $174.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Zacks Investment Research lowered shares of McKesson from a “hold” rating to a “sell” rating and set a $161.00 target price on the stock. in a report on Thursday, July 16th. ValuEngine downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Finally, Morgan Stanley boosted their price target on shares of McKesson from $163.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $172.79.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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