Veracity Capital LLC Sells 1,082 Shares of McKesson Co. (NYSE:MCK)

Veracity Capital LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 44.6% in the first quarter, Holdings Channel.com reports. The fund owned 1,344 shares of the company’s stock after selling 1,082 shares during the quarter. Veracity Capital LLC’s holdings in McKesson were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Norges Bank bought a new position in McKesson during the fourth quarter worth about $1,024,140,000. International Assets Investment Management LLC boosted its stake in McKesson by 1,044.5% in the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after buying an additional 749,504 shares in the last quarter. TD Asset Management Inc grew its position in McKesson by 202.8% in the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after acquiring an additional 403,312 shares during the period. Morgan Stanley raised its stake in McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after acquiring an additional 294,832 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of McKesson by 5,683.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after acquiring an additional 221,125 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 0.3 %

MCK stock traded down $1.48 during midday trading on Thursday, reaching $583.35. The stock had a trading volume of 313,911 shares, compared to its average volume of 619,046. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $612.17. The firm has a market cap of $75.80 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.37 and a beta of 0.45. The business has a fifty day simple moving average of $569.08 and a two-hundred day simple moving average of $527.93.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.62 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 11.08%.

Insider Buying and Selling

In other McKesson news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the sale, the executive vice president now owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maria Martinez sold 483 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. Insiders sold a total of 25,814 shares of company stock valued at $14,511,649 over the last three months. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MCK shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Citigroup raised their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Evercore ISI boosted their target price on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. TD Cowen raised their price target on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Argus boosted their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $590.47.

McKesson Profile

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.