Asset Management One Co. Ltd. Sells 2,761 Shares of McKesson Corporation (NYSE:MCK)

Asset Management One Co. Ltd. trimmed its stake in McKesson Corporation (NYSE:MCK - Free Report) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,665 shares of the company's stock after selling 2,761 shares during the period. Asset Management One Co. Ltd.'s holdings in McKesson were worth $40,154,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Capital A Wealth Management LLC bought a new position in shares of McKesson in the 4th quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in McKesson during the 4th quarter worth approximately $28,000. Atala Financial Inc purchased a new stake in shares of McKesson in the 4th quarter valued at $34,000. Graney & King LLC acquired a new position in shares of McKesson in the 4th quarter valued at $38,000. Finally, CoreFirst Bank & Trust purchased a new position in McKesson during the fourth quarter valued at $67,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 341 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the transaction, the executive vice president now owns 2,800 shares in the company, valued at $2,010,148. This represents a 10.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the sale, the chief executive officer now owns 51,243 shares of the company's stock, valued at $36,173,970.99. This represents a 27.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of MCK stock traded down $1.64 during midday trading on Wednesday, reaching $719.18. 529,874 shares of the company were exchanged, compared to its average volume of 920,365. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $733.10. The company's 50 day moving average price is $709.57 and its two-hundred day moving average price is $649.70. The company has a market cap of $89.98 billion, a P/E ratio of 27.84, a PEG ratio of 1.44 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same period in the previous year, the firm posted $6.18 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts predict that McKesson Corporation 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. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is currently 10.99%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MCK. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Morgan Stanley upped their price objective on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Mizuho boosted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Bank of America raised their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $696.42.

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.