China Universal Asset Management Co. Ltd. Acquires Shares of 1,548 McKesson Corporation (NYSE:MCK)

China Universal Asset Management Co. Ltd. purchased a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,548 shares of the company's stock, valued at approximately $1,042,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Capital A Wealth Management LLC acquired a new position in McKesson in the 4th quarter valued at about $26,000. Millstone Evans Group LLC acquired a new position in McKesson in the 4th quarter valued at about $28,000. Atala Financial Inc acquired a new position in McKesson in the 4th quarter valued at about $34,000. Graney & King LLC acquired a new position in McKesson in the 4th quarter valued at about $38,000. Finally, CoreFirst Bank & Trust acquired a new position in McKesson in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insiders Place Their Bets

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the transaction, the chief financial officer directly owned 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the transaction, the executive vice president owned 2,544 shares in the company, valued at $1,811,785.92. This trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,117 shares of company stock valued at $23,526,451. Corporate insiders own 0.08% of the company's stock.

McKesson Stock Performance

Shares of MCK stock traded down $13.18 on Thursday, hitting $714.05. The stock had a trading volume of 547,012 shares, compared to its average volume of 928,558. The firm has a market capitalization of $89.33 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 1.45 and a beta of 0.48. The stock's 50 day moving average is $715.50 and its 200-day moving average is $660.30. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last announced its 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. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.18 earnings per share. Equities analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Analyst Ratings Changes

A number of research firms have recently commented on MCK. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Evercore ISI upped their price target on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $706.83.

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.