Brookstone Capital Management Sells 1,785 Shares of McKesson Corporation (NYSE:MCK)

Brookstone Capital Management lowered its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 17.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,688 shares of the company's stock after selling 1,785 shares during the period. Brookstone Capital Management's holdings in McKesson were worth $5,847,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. T. Rowe Price Investment Management Inc. raised its holdings in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after purchasing an additional 222,496 shares during the last quarter. Geode Capital Management LLC raised its stake in McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after buying an additional 10,015 shares during the last quarter. Franklin Resources Inc. raised its stake in McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after buying an additional 114,396 shares during the last quarter. GAMMA Investing LLC raised its stake in McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after buying an additional 2,389,992 shares during the last quarter. Finally, Norges Bank bought a new position in McKesson during the fourth quarter worth $1,200,361,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Up 2.0%

NYSE MCK opened at $719.30 on Friday. The company 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. The business has a 50 day moving average price of $714.17 and a 200-day moving average price of $657.15. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $736.96.

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 business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. McKesson's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.18 EPS. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Insider Buying and Selling

In related news, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer directly owned 14,760 shares of the company's stock, valued at approximately $10,587,348. This represents a 30.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer directly owned 51,243 shares in the company, valued at $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Morgan Stanley lifted their target price on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Finally, Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently 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.

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