Bessemer Group Inc. Sells 3,880 Shares of McKesson Corporation (NYSE:MCK)

Bessemer Group Inc. reduced its stake in McKesson Corporation (NYSE:MCK - Free Report) by 0.7% 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 owned 558,081 shares of the company's stock after selling 3,880 shares during the period. Bessemer Group Inc. owned 0.45% of McKesson worth $375,584,000 at the end of the most recent reporting period.

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

McKesson Stock Performance

Shares of MCK traded down $1.64 during mid-day trading on Wednesday, hitting $719.18. 529,889 shares of the company traded hands, compared to its average volume of 920,365. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $733.10. The stock has a 50-day moving average price of $709.57 and a two-hundred day moving average price of $649.70. The stock has a market cap of $89.98 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 1.44 and a beta of 0.49.

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

McKesson Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 0.39%. McKesson's payout ratio is 10.99%.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 510 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $366,134.10. Following the transaction, the executive vice president now owns 5,435 shares of the company's stock, valued at approximately $3,901,840.85. This trade represents a 8.58% 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 in the last three months. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Morgan Stanley upped their target price on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.