Axecap Investments LLC Invests $1.97 Million in McKesson Co. (NYSE:MCK)

Axecap Investments LLC acquired a new stake in McKesson Co. (NYSE:MCK - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 2,925 shares of the company's stock, valued at approximately $1,968,000. McKesson makes up 1.7% of Axecap Investments LLC's holdings, making the stock its 26th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC bought a new position in shares of McKesson in the fourth quarter worth $28,000. Atala Financial Inc bought a new stake in McKesson during the fourth quarter valued at $34,000. Graney & King LLC purchased a new position in McKesson during the fourth quarter worth about $38,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson in the 4th quarter worth about $44,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Up 1.8%

Shares of McKesson stock traded up $12.63 during trading on Thursday, reaching $730.39. 673,308 shares of the stock were exchanged, compared to its average volume of 920,080. The firm has a market cap of $91.38 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $743.00. The stock's fifty day moving average is $700.42 and its 200 day moving average is $642.88.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business's revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm posted $6.18 EPS. Equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio is presently 10.99%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the sale, the chief executive officer now directly owns 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 in the last three months. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCK. UBS Group upped their price objective 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. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Finally, Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $694.38.

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.