840 Shares in McKesson Co. (NYSE:MCK) Bought by Bannerman Wealth Management Group LLC

Bannerman Wealth Management Group LLC acquired a new position in McKesson Co. (NYSE:MCK - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 840 shares of the company's stock, valued at approximately $565,000. McKesson makes up approximately 0.5% of Bannerman Wealth Management Group LLC's holdings, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Capital A Wealth Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at $26,000. Millstone Evans Group LLC acquired a new position in McKesson during the fourth quarter worth $28,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at about $34,000. Graney & King LLC acquired a new stake in shares of McKesson in the fourth quarter valued at about $38,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of McKesson in the fourth quarter valued at about $44,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Mizuho lifted their target price 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. Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Morgan Stanley boosted their price objective on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $694.38.

McKesson Stock Performance

NYSE MCK traded down $3.65 on Friday, reaching $727.15. The company had a trading volume of 518,101 shares, compared to its average volume of 920,809. The company's fifty day moving average is $703.28 and its 200-day moving average is $644.50. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $732.99. The firm has a market capitalization of $90.98 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

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

McKesson Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 51,243 shares of the company's stock, valued at $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 1,972 shares in the company, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock valued at $23,526,451 in the last three months. 0.11% of the stock is currently owned by company insiders.

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.