Brookwood Investment Group LLC Acquires Shares of 730 McKesson Corporation (NYSE:MCK)

Key Points

• Brookwood Investment Group LLC acquired 730 shares of McKesson Corporation, valued at approximately $491,000, marking a new position in the company.
• McKesson recently experienced insider selling, with CAO Napoleon B. Rutledge, Jr. and EVP Thomas L. Rodgers selling significant shares, leading to a decreased ownership by the executives.
• Equities research analysts have projected a positive outlook for McKesson, with updated price targets ranging from $690.00 to $810.00 and a consensus rating of "Moderate Buy".

Brookwood Investment Group LLC purchased a new position in McKesson Corporation (NYSE:MCK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 730 shares of the company's stock, valued at approximately $491,000.

A number of other hedge funds also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its position in McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after acquiring an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after acquiring an additional 111 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after acquiring an additional 3,659 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in McKesson by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after acquiring an additional 7,556 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in shares of McKesson by 6.3% during the first quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock worth $659,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on MCK shares. Morgan Stanley restated an "overweight" rating and set a $810.00 price target (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Bank of America boosted their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Evercore ISI boosted their price target on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Three research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $710.17.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer directly owned 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,488 shares of company stock valued at $37,242,862 over the last three months. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Down 0.9%

MCK traded down $6.42 during trading on Monday, hitting $705.40. The company's stock had a trading volume of 132,052 shares, compared to its average volume of 872,196. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The stock's fifty day moving average price is $717.86 and its 200-day moving average price is $672.71. The firm has a market capitalization of $88.25 billion, a P/E ratio of 27.31, a PEG ratio of 1.44 and a beta of 0.48.

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

McKesson Announces Dividend

The company also recently announced 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's payout ratio is 10.99%.

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.