163,915 Shares in McKesson Corporation (NYSE:MCK) Purchased by Close Asset Management Ltd

Close Asset Management Ltd acquired a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 163,915 shares of the company's stock, valued at approximately $110,413,000. McKesson accounts for approximately 3.2% of Close Asset Management Ltd's portfolio, making the stock its 12th biggest holding. Close Asset Management Ltd owned about 0.13% of McKesson at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. CVA Family Office LLC boosted its holdings in shares of McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after acquiring an additional 15 shares during the period. Palisade Asset Management LLC lifted its holdings in shares of McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock worth $481,000 after purchasing an additional 15 shares during the period. SteelPeak Wealth LLC lifted its holdings in shares of McKesson by 0.5% during the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock worth $1,867,000 after purchasing an additional 15 shares during the period. Parallel Advisors LLC lifted its holdings 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 during the period. Finally, Eagle Rock Investment Company LLC lifted its holdings 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 during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Evercore ISI increased their price target on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $710.17.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 1,248 shares of McKesson stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the sale, the executive vice president owned 2,621 shares in the company, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer owned 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,488 shares of company stock valued at $37,242,862. Company insiders own 0.08% of the company's stock.

McKesson Trading Up 0.2%

Shares of MCK stock traded up $1.61 during mid-day trading on Friday, reaching $711.80. The stock had a trading volume of 431,229 shares, compared to its average volume of 586,523. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89. The company has a market cap of $89.05 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.48. The business has a 50-day simple moving average of $717.86 and a 200 day simple moving average of $671.56.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same quarter last year, the business posted $6.18 earnings per share. The business's revenue for the quarter was up 18.9% on a year-over-year basis. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's dividend payout ratio is currently 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.