Financial Harvest LLC Takes $4.35 Million Position in McKesson Corporation (NYSE:MCK)

Financial Harvest LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,466 shares of the company's stock, valued at approximately $4,352,000. McKesson makes up about 2.9% of Financial Harvest LLC's portfolio, making the stock its 10th largest position.

Other large investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of McKesson by 54.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after buying an additional 1,592 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after acquiring an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after acquiring an additional 3,659 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in McKesson by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after acquiring an additional 7,556 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake in McKesson by 6.3% in the first quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock valued at $659,000 after acquiring an additional 58 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 0.1%

Shares of NYSE:MCK traded down $0.44 during trading on Friday, reaching $709.84. The stock had a trading volume of 496,474 shares, compared to its average volume of 921,244. The firm has a market capitalization of $88.81 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.42 and a beta of 0.48. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The stock has a fifty day simple moving average of $716.44 and a two-hundred day simple moving average of $667.56.

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

McKesson Announces Dividend

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

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. UBS Group boosted their target price 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. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Evercore ISI upped their price target on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $710.17.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction 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 transaction, the chief accounting officer directly owned 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 341 shares of McKesson stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $244,807.31. Following the transaction, the executive vice president directly owned 2,800 shares in the company, valued at approximately $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,488 shares of company stock valued at $37,242,862. 0.08% of the stock is currently owned by company insiders.

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.