Donaldson Capital Management LLC Makes New $258,000 Investment in McKesson Co. (NYSE:MCK)

Donaldson Capital Management LLC purchased a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 383 shares of the company's stock, valued at approximately $258,000.

A number of other institutional investors also recently made changes to their positions in MCK. Brighton Jones LLC raised its position in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after acquiring an additional 798 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of McKesson by 7.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,578 shares of the company's stock worth $2,609,000 after purchasing an additional 319 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in McKesson by 28.2% during the fourth quarter. Summit Trail Advisors LLC now owns 1,796 shares of the company's stock valued at $1,025,000 after purchasing an additional 395 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in McKesson by 3.7% during the fourth quarter. Essex Financial Services Inc. now owns 2,959 shares of the company's stock worth $1,687,000 after buying an additional 105 shares in the last quarter. Finally, Quent Capital LLC grew its position in McKesson by 1.7% in the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company's stock worth $671,000 after buying an additional 20 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Finally, Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $694.38.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the sale, the chief financial officer now owns 14,760 shares of the company's stock, valued at $10,587,348. The trade was a 30.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock valued at $23,526,451 in the last ninety days. Insiders own 0.11% of the company's stock.

McKesson Stock Down 0.4%

Shares of NYSE:MCK traded down $2.84 during trading on Friday, reaching $727.97. 262,533 shares of the company traded hands, compared to its average volume of 917,545. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $732.09. The firm has a market cap of $91.08 billion, a P/E ratio of 33.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The firm has a fifty day simple moving average of $701.80 and a 200 day simple moving average of $643.67.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period in the prior year, the firm posted $6.18 EPS. The business's revenue was up 18.9% compared to the same quarter last year. As a group, research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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