American Century Companies Inc. Sells 39,819 Shares of McKesson Corporation $MCK

American Century Companies Inc. lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 77.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,823 shares of the company’s stock after selling 39,819 shares during the quarter. American Century Companies Inc.’s holdings in McKesson were worth $7,957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in McKesson during the 4th quarter valued at $26,000. Bank of Jackson Hole Trust boosted its position in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in shares of McKesson in the 1st quarter worth $40,000. Finally, Dagco Inc. acquired a new stake in shares of McKesson in the 1st quarter worth $47,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $683.46 on Thursday. The firm has a market capitalization of $85.01 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.35 and a beta of 0.50. The business has a fifty day moving average of $704.08 and a 200 day moving average of $686.28. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business’s revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the business earned $7.88 EPS. As a group, equities research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is presently 11.32%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 19,371 shares of McKesson stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. The trade was a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president owned 2,544 shares of the company’s stock, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,821 shares of company stock worth $46,171,378 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCK. Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. Wells Fargo & Company raised their price objective on McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Evercore ISI raised their price objective on McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Cowen reissued a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $725.10.

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.