China Universal Asset Management Co. Ltd. acquired a new position in McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,548 shares of the company's stock, valued at approximately $1,042,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its holdings in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after buying an additional 798 shares during the period. Proficio Capital Partners LLC bought a new stake in McKesson in the 4th quarter valued at $313,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in McKesson in the 4th quarter valued at $97,000. Sound View Wealth Advisors Group LLC bought a new stake in McKesson in the 4th quarter valued at $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in McKesson by 0.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,124 shares of the company's stock valued at $32,556,000 after buying an additional 402 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer owned 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 legal filing with the SEC, which is available at this link. Also, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction dated 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 transaction, the chief financial officer owned 14,760 shares in the company, valued at approximately $10,587,348. This represents a 30.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.08% of the company's stock.
Analyst Ratings Changes
MCK has been the topic of several analyst reports. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Evercore ISI boosted their target price on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Finally, UBS Group upped their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $706.83.
Check Out Our Latest Analysis on McKesson
McKesson Price Performance
NYSE:MCK traded down $11.00 during trading hours on Thursday, reaching $716.23. 199,319 shares of the stock were exchanged, compared to its average volume of 925,097. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The firm has a 50 day moving average of $715.50 and a 200 day moving average of $660.30. The stock has a market cap of $89.61 billion, a PE ratio of 27.73, a PEG ratio of 1.44 and a beta of 0.48.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.18 EPS. Equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.
McKesson Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson's dividend payout ratio (DPR) is 10.99%.
McKesson Profile
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Free Report)
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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