Blueshift Asset Management LLC Makes New $900,000 Investment in McKesson Corporation (NYSE:MCK)

Blueshift Asset Management LLC bought a new position in McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,337 shares of the company's stock, valued at approximately $900,000.

Other hedge funds also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC increased its position 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 worth $30,000 after acquiring an additional 41 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in shares of McKesson during the fourth quarter worth $26,000. Bank of Jackson Hole Trust increased its position in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after acquiring an additional 18 shares in the last quarter. Cornerstone Planning Group LLC increased its position 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 worth $67,000 after acquiring an additional 92 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of McKesson during the fourth quarter worth $76,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, CFO Britt J. Vitalone sold 1,878 shares of the firm'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 $1,348,234.98. Following the completion of the sale, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the sale, the executive vice president owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,488 shares of company stock worth $37,242,862 in the last quarter. 0.08% of the stock is owned by corporate insiders.

McKesson Price Performance

MCK stock traded up $4.89 during trading hours on Friday, reaching $698.43. The stock had a trading volume of 960,996 shares, compared to its average volume of 561,144. The stock has a market capitalization of $87.38 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.40 and a beta of 0.50. The stock has a 50-day simple moving average of $716.92 and a 200 day simple moving average of $674.88. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89.

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

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio is 10.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Evercore ISI raised their target price on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. UBS Group raised their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $710.17.

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.