Ceera Investments LLC Has $262,000 Stake in McKesson Corporation (NYSE:MCK)

Ceera Investments LLC reduced its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 95.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390 shares of the company's stock after selling 8,583 shares during the quarter. Ceera Investments LLC's holdings in McKesson were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Olde Wealth Management LLC acquired a new position in McKesson during the 1st quarter worth $122,000. Truist Financial Corp lifted its stake in shares of McKesson by 3.2% during the first quarter. Truist Financial Corp now owns 73,030 shares of the company's stock valued at $49,148,000 after acquiring an additional 2,243 shares during the period. Capital Investment Advisory Services LLC bought a new position in McKesson in the first quarter valued at about $221,000. Impax Asset Management Group plc boosted its holdings in McKesson by 3.5% in the first quarter. Impax Asset Management Group plc now owns 1,846 shares of the company's stock valued at $1,242,000 after acquiring an additional 63 shares during the last quarter. Finally, SMART Wealth LLC acquired a new stake in McKesson in the first quarter worth about $236,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Trading Up 2.0%

NYSE:MCK opened at $719.30 on Friday. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $736.96. The stock has a 50-day moving average price of $714.17 and a two-hundred day moving average price of $657.15. The stock has a market cap of $89.99 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.44 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same period in the previous year, the firm earned $6.18 EPS. McKesson's quarterly revenue was up 18.9% compared to the same quarter last year. Sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer directly owned 51,243 shares of the company's stock, valued at $36,173,970.99. This trade represents a 27.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Britt J. Vitalone sold 1,878 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the completion of the sale, the chief financial officer directly owned 14,028 shares in the company, valued at approximately $10,070,841.48. This represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,117 shares of company stock worth $23,526,451. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCK has been the topic of a number of research reports. Bank of America upped their target price on shares of 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 objective on shares of McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, UBS Group raised their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $696.42.

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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.