Cambridge Investment Research Advisors Inc. Grows Position in McKesson Corporation (NYSE:MCK)

Cambridge Investment Research Advisors Inc. raised its position in McKesson Corporation (NYSE:MCK - Free Report) by 18.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,033 shares of the company's stock after buying an additional 3,659 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in McKesson were worth $15,501,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position 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 acquiring an additional 2,389,992 shares during the period. Norges Bank acquired a new position in shares of McKesson during the 4th quarter worth approximately $1,200,361,000. Farallon Capital Management LLC bought a new position in shares of McKesson during the fourth quarter worth approximately $348,044,000. Marshall Wace LLP raised its position in shares of McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after buying an additional 358,322 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $182,861,000. Institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MCK shares. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Morgan Stanley increased 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. UBS Group boosted their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th. 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 report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus price target of $696.42.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 341 shares of the business'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 $244,807.31. Following the completion of the sale, the executive vice president now directly owns 2,800 shares of the company's stock, valued at $2,010,148. The trade was a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock valued at $23,526,451 in the last three months. Corporate insiders own 0.11% of the company's stock.

McKesson Stock Down 0.2%

Shares of NYSE MCK traded down $1.64 during trading on Wednesday, reaching $719.18. The company had a trading volume of 529,874 shares, compared to its average volume of 920,365. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $733.10. The stock has a market cap of $89.98 billion, a P/E ratio of 27.84, a PEG ratio of 1.44 and a beta of 0.49. The company's fifty day moving average price is $709.57 and its 200-day moving average price is $649.70.

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, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the company earned $6.18 EPS. The company's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. 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.