McKesson Corporation (NYSE:MCK) Position Trimmed by Capital Advisors Inc. OK

Capital Advisors Inc. OK reduced its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 40.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 872 shares of the company's stock after selling 599 shares during the period. Capital Advisors Inc. OK's holdings in McKesson were worth $587,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president owned 2,621 shares in the company, valued at $1,880,043.30. This represents a 32.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 51,243 shares of the company's stock, valued at approximately $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 three months, insiders sold 33,117 shares of company stock worth $23,526,451. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MCK. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Evercore ISI boosted their price objective on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of "Moderate Buy" and an average price target of $706.83.

McKesson Price Performance

Shares of NYSE MCK traded down $13.60 during mid-day trading on Thursday, hitting $713.64. The company had a trading volume of 314,689 shares, compared to its average volume of 913,456. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The stock has a market cap of $89.28 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 1.44 and a beta of 0.48. The firm's 50 day simple moving average is $715.50 and its two-hundred day simple moving average is $660.30.

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

McKesson Dividend Announcement

The firm also recently disclosed 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 0.40%. McKesson's dividend payout ratio is presently 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.