[ad_1]
Cambridge Investment Research Advisors Inc. boosted its holdings in shares of McKesson Corporation (NYSE:MCK – Free Report) by 18.9% in the first quarter, HoldingsChannel reports. The firm owned 23,033 shares of the company’s stock after buying an additional 3,659 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in McKesson were worth $15,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC increased its position in shares of McKesson by 6.0% during the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock worth $178,000 after purchasing an additional 15 shares in the last quarter. Parallel Advisors LLC increased its position in shares of McKesson by 0.6% during the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock worth $1,683,000 after purchasing an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares in the last quarter. Eagle Rock Investment Company LLC increased its position in shares of McKesson by 0.4% during the first quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company’s stock worth $3,229,000 after purchasing an additional 17 shares in the last quarter. Finally, First Western Trust Bank increased its position in shares of McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after purchasing an additional 18 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at McKesson
In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the sale, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction on 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 sale, the executive vice president now owns 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on MCK shares. Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an “equal weight” rating in a research report on Tuesday, June 3rd. Morgan Stanley lifted their target price on McKesson from $745.00 to $770.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Bank of America boosted their price target on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $696.42.
View Our Latest Stock Report on McKesson
McKesson Trading Down 0.0%
Shares of MCK opened at $721.58 on Wednesday. The stock’s 50 day moving average is $709.57 and its two-hundred day moving average is $649.70. The firm has a market capitalization of $90.28 billion, a PE ratio of 27.94, a P/E/G ratio of 1.44 and a beta of 0.49. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $733.10.
McKesson (NYSE:MCK – Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.18 EPS. On average, sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.
McKesson Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is 10.99%.
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.
Featured Stories
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK – Free Report).
Receive News & Ratings for McKesson Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for McKesson and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link