Capital Advisors Inc. OK Cuts Stock Position in McKesson Corporation (NYSE:MCK)

Capital Advisors Inc. OK decreased its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 40.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & 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 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in McKesson by 4.0% during the first quarter. Envestnet Asset Management Inc. now owns 282,844 shares of the company's stock valued at $190,351,000 after purchasing an additional 10,877 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of McKesson by 5.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,776 shares of the company's stock worth $1,195,000 after buying an additional 99 shares during the last quarter. Macroview Investment Management LLC purchased a new stake in shares of McKesson during the 1st quarter valued at about $208,000. World Investment Advisors raised its position in shares of McKesson by 23.0% during the 1st quarter. World Investment Advisors now owns 5,857 shares of the company's stock valued at $3,942,000 after buying an additional 1,095 shares in the last quarter. Finally, Olde Wealth Management LLC bought a new position in shares of McKesson in the 1st quarter valued at about $122,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

McKesson stock traded up $3.02 during trading hours on Wednesday, hitting $727.13. The company had a trading volume of 627,452 shares, compared to its average volume of 927,964. The firm has a market cap of $90.97 billion, a P/E ratio of 28.15, a P/E/G ratio of 1.44 and a beta of 0.48. The company has a 50-day moving average price of $715.21 and a two-hundred day moving average price of $659.83. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the firm posted $6.18 earnings per share. The company's revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared 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 0.39%. The ex-dividend date was Monday, June 2nd. McKesson's payout ratio is 10.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley boosted their price objective on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Bank of America boosted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $706.83.

Insider Activity

In other news, CFO Britt J. Vitalone sold 6,336 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer owned 1,972 shares in the company, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,117 shares of company stock valued at $23,526,451. Company insiders own 0.08% of the company's stock.

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.