626 Shares in McKesson Corporation (NYSE:MCK) Purchased by OxenFree Capital LLC

OxenFree Capital LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 626 shares of the company's stock, valued at approximately $427,000.

Several other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC raised its holdings in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after buying an additional 2,389,992 shares during the last quarter. Norges Bank purchased a new position in McKesson in the fourth quarter worth about $1,200,361,000. Farallon Capital Management LLC purchased a new position in McKesson in the fourth quarter worth about $348,044,000. Marshall Wace LLP raised its holdings in McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after buying an additional 358,322 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in McKesson in the fourth quarter worth about $182,861,000. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Mizuho boosted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $694.38.

Insiders Place Their Bets

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the transaction, the chief financial officer now directly owns 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 over the last three months. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 1.1%

Shares of NYSE MCK opened at $720.88 on Friday. The firm has a 50 day moving average of $708.42 and a 200 day moving average of $648.09. The firm has a market capitalization of $90.19 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 1.44 and a beta of 0.49. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $733.10.

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

McKesson Dividend Announcement

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

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