358 Shares in McKesson Corporation (NYSE:MCK) Purchased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp bought a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 358 shares of the company's stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC grew its holdings in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after buying an additional 41 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $28,000. Graney & King LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $38,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of McKesson by 1,840.0% during the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock valued at $67,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. 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. Evercore ISI boosted their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Morgan Stanley reissued an "overweight" rating and set a $810.00 target price (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Finally, Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $710.17.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 19,371 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer directly owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. This trade represents a 41.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm'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 completion of the transaction, the chief accounting officer directly owned 1,972 shares in the company, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,488 shares of company stock worth $37,242,862 in the last three months. 0.08% of the stock is owned by corporate insiders.

McKesson Price Performance

MCK stock traded down $2.57 during midday trading on Thursday, hitting $711.43. 325,419 shares of the stock traded hands, compared to its average volume of 879,009. The firm has a market cap of $89.01 billion, a P/E ratio of 27.52, a PEG ratio of 1.43 and a beta of 0.48. The stock's fifty day simple moving average is $717.99 and its 200-day simple moving average is $669.79. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89.

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. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same quarter last year, the business earned $6.18 earnings per share. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. On average, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

McKesson Company 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.