Chicago Capital LLC Sells 15,479 Shares of McKesson Corporation (NYSE:MCK)

Chicago Capital LLC cut its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 97.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 346 shares of the company's stock after selling 15,479 shares during the period. Chicago Capital LLC's holdings in McKesson were worth $233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its position in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after acquiring an additional 798 shares during the period. Allworth Financial LP grew its position in McKesson by 25.4% in the fourth quarter. Allworth Financial LP now owns 3,628 shares of the company's stock valued at $2,120,000 after acquiring an additional 734 shares during the period. Americana Partners LLC bought a new stake in McKesson in the fourth quarter valued at $206,000. D.A. Davidson & CO. grew its position in McKesson by 5.1% in the fourth quarter. D.A. Davidson & CO. now owns 6,060 shares of the company's stock valued at $3,454,000 after acquiring an additional 293 shares during the period. Finally, Venturi Wealth Management LLC grew its position in McKesson by 3.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,632 shares of the company's stock valued at $1,500,000 after acquiring an additional 80 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.7%

Shares of MCK stock opened at $729.28 on Thursday. The stock has a 50-day moving average price of $706.79 and a 200 day moving average price of $646.38. The firm has a market cap of $91.24 billion, a price-to-earnings ratio of 28.23, a PEG 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 $732.99.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company's revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $6.18 earnings per share. Sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be 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 is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is currently 10.99%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president now owns 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,117 shares of company stock worth $23,526,451. Insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Morgan Stanley raised their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Wall Street Zen lowered 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 target price on McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Finally, UBS Group raised their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and an average target price of $694.38.

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.

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