Venture Visionary Partners LLC Lowers Holdings in McKesson Co. (NYSE:MCK)

Venture Visionary Partners LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 3.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 737 shares of the company’s stock after selling 24 shares during the period. Venture Visionary Partners LLC’s holdings in McKesson were worth $364,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after acquiring an additional 46,659 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares during the last quarter. Swedbank AB purchased a new position in shares of McKesson during the first quarter valued at about $669,326,000. Boston Partners increased its holdings in shares of McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after purchasing an additional 47,140 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of McKesson by 7.9% in the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after buying an additional 62,875 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.6 %

NYSE MCK opened at $505.38 on Wednesday. The stock has a market cap of $65.67 billion, a PE ratio of 22.58, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company’s 50-day moving average price is $519.31 and its 200-day moving average price is $551.72.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the prior year, the firm earned $7.27 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were issued a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on MCK. Citigroup reduced their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Evercore ISI dropped their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Mizuho upped their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $531.00 price target (down previously from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $610.86.

About McKesson

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.