McKesson Corporation (NYSE:MCK) Shares Sold by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. trimmed its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,962 shares of the company's stock after selling 2,793 shares during the quarter. Braun Stacey Associates Inc.'s holdings in McKesson were worth $24,202,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares in the last quarter. Norges Bank purchased a new stake in McKesson in the 4th quarter worth $1,200,361,000. Farallon Capital Management LLC purchased a new stake in McKesson in the 4th quarter worth $348,044,000. Marshall Wace LLP increased its holdings in McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after acquiring an additional 358,322 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new stake in McKesson in the 4th quarter worth $182,861,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Morgan Stanley boosted their price target on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Finally, Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $696.42.

Insider Activity

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president owned 2,544 shares of the company's stock, valued at $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the transaction, the chief financial officer directly owned 14,760 shares in the company, valued at $10,587,348. The trade was a 30.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,117 shares of company stock worth $23,526,451. Insiders own 0.08% of the company's stock.

McKesson Trading Up 2.0%

MCK traded up $13.85 on Friday, hitting $719.30. 392,096 shares of the company's stock were exchanged, compared to its average volume of 926,752. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $736.96. The firm has a 50-day moving average price of $714.17 and a 200-day moving average price of $658.30. The stock has a market cap of $89.99 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 1.44 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last announced 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 net margin of 0.92% and a negative return on equity of 201.12%. The company's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.18 EPS. On average, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's payout ratio is 10.99%.

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.