McKesson Corporation (NYSE:MCK) Shares Sold by Burney Co.

Burney Co. decreased its position in McKesson Corporation (NYSE:MCK - Free Report) by 0.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,722 shares of the company's stock after selling 392 shares during the period. McKesson accounts for about 1.5% of Burney Co.'s investment portfolio, making the stock its 7th biggest position. Burney Co.'s holdings in McKesson were worth $41,538,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MCK. Capital A Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson during the 4th quarter worth $28,000. CBIZ Investment Advisory Services LLC lifted its position in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Graney & King LLC purchased a new stake in shares of McKesson during the 4th quarter worth $38,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of McKesson during the 4th quarter worth $67,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

Shares of McKesson stock traded up $1.61 during trading hours on Friday, reaching $711.80. The company's stock had a trading volume of 431,229 shares, compared to its average volume of 586,523. The stock has a market cap of $89.05 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.48. The company's 50 day simple moving average is $717.86 and its 200 day simple moving average is $671.56. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 EPS 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%. McKesson's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company earned $6.18 EPS. On average, sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors 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 yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's payout ratio is presently 10.99%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of McKesson stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the sale, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. The trade was a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president owned 2,544 shares of the company's stock, valued at $1,811,785.92. This trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,488 shares of company stock valued at $37,242,862 in the last three months. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. UBS Group upped their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley upped their target price on shares of McKesson from $770.00 to $810.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. 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 research note on Friday, May 9th. Finally, Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $710.17.

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.