TFR Capital LLC. Purchases Shares of 2,353 McKesson Corporation (NYSE:MCK)

TFR Capital LLC. purchased a new position in McKesson Corporation (NYSE:MCK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,353 shares of the company's stock, valued at approximately $1,584,000.

Several other hedge funds have also recently made changes to their positions in the business. CVA Family Office LLC grew its stake in shares of McKesson by 6.0% in the 1st quarter. CVA Family Office LLC now owns 265 shares of the company's stock worth $178,000 after buying an additional 15 shares during the last quarter. Palisade Asset Management LLC boosted its holdings in shares of McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock worth $481,000 after buying an additional 15 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in McKesson by 0.5% in the 1st 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 grew its stake in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after acquiring an additional 16 shares during the period. Finally, Frank Rimerman Advisors LLC increased its stake in McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after buying an additional 17 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

NYSE MCK traded down $6.05 during trading hours on Friday, hitting $708.49. The company had a trading volume of 530,634 shares, compared to its average volume of 927,242. The business has a 50 day moving average of $715.67 and a 200-day moving average of $662.71. The company has a market cap of $88.64 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm's revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $6.18 EPS. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 10.99%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent research reports. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Evercore ISI increased their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday. UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $706.83.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the sale, the executive vice president owned 2,621 shares of the company's stock, valued at $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer directly owned 1,972 shares in the company, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,117 shares of company stock valued at $23,526,451. Company insiders own 0.08% of the company's stock.

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.