Chevy Chase Trust Holdings LLC Sells 901 Shares of McKesson Corporation (NYSE:MCK)

Chevy Chase Trust Holdings LLC trimmed its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,217 shares of the company's stock after selling 901 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of McKesson worth $44,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in MCK. Keystone Financial Services lifted its stake in shares of McKesson by 1.2% in the 1st quarter. Keystone Financial Services now owns 1,404 shares of the company's stock valued at $945,000 after purchasing an additional 17 shares during the last quarter. Keudell Morrison Wealth Management acquired a new stake in McKesson in the 1st quarter worth approximately $202,000. Consolidated Portfolio Review Corp grew its holdings in McKesson by 6.6% during the first quarter. Consolidated Portfolio Review Corp now owns 723 shares of the company's stock valued at $487,000 after purchasing an additional 45 shares during the last quarter. Palisade Asset Management LLC grew its holdings in McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after purchasing an additional 15 shares during the last quarter. Finally, Legacy Advisors LLC bought a new position in shares of McKesson in the first quarter valued at approximately $238,000. Institutional investors own 85.07% of the company's stock.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer now directly owns 1,972 shares in the company, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was 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 now directly owns 2,621 shares in the company, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 in the last 90 days. 0.11% of the stock is owned by company insiders.

McKesson Price Performance

Shares of MCK traded down $1.64 on Wednesday, reaching $719.18. 529,889 shares of the stock traded hands, compared to its average volume of 920,365. The stock's 50-day moving average price is $709.57 and its 200-day moving average price is $649.70. The firm has a market cap of $89.98 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 1.44 and a beta of 0.49. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $733.10.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results 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 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 analyst estimates of $94 billion. During the same quarter in the previous year, the firm posted $6.18 EPS. The business's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Bank of America lifted their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, UBS Group lifted 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 analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus target price of $696.42.

McKesson Company 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.