China Universal Asset Management Co. Ltd. Takes $1.04 Million Position in 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 filing with the SEC. The fund purchased 1,548 shares of the company's stock, valued at approximately $1,042,000.

Several other institutional investors also recently modified their holdings of the business. T. Rowe Price Investment Management Inc. grew its holdings in McKesson by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after purchasing an additional 222,496 shares during the period. Geode Capital Management LLC grew its holdings in McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after purchasing an additional 10,015 shares during the period. Franklin Resources Inc. grew its holdings in McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after purchasing an additional 114,396 shares during the period. GAMMA Investing LLC grew its holdings in McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares during the period. Finally, Norges Bank acquired a new position in McKesson during the fourth quarter valued at approximately $1,200,361,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCK. Morgan Stanley boosted their price objective on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Bank of America lifted their price target 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. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Finally, Evercore ISI lifted their price target on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $706.83.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer directly owned 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of McKesson 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 $4,544,812.80. Following the transaction, the chief financial officer owned 14,760 shares of the company's stock, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 in the last three months. 0.08% of the stock is owned by company insiders.

McKesson Stock Down 0.8%

Shares of MCK stock traded down $6.05 during trading on Friday, reaching $708.49. The company's stock had a trading volume of 530,634 shares, compared to its average volume of 926,972. The business has a fifty day moving average price of $715.65 and a 200-day moving average price of $661.24. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The company has a market cap of $88.64 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm posted $6.18 earnings per share. The company's quarterly revenue was up 18.9% compared to the same quarter last year. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared 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. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is currently 10.99%.

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.