Clifford Swan Investment Counsel LLC Sells 491 Shares of McKesson Corporation (NYSE:MCK)

Clifford Swan Investment Counsel LLC cut its stake in McKesson Corporation (NYSE:MCK - Free Report) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,241 shares of the company's stock after selling 491 shares during the period. McKesson accounts for 1.0% of Clifford Swan Investment Counsel LLC's investment portfolio, making the stock its 28th largest holding. Clifford Swan Investment Counsel LLC's holdings in McKesson were worth $27,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in shares of McKesson during the 4th quarter worth approximately $26,000. Millstone Evans Group LLC bought a new stake in McKesson in the fourth quarter valued at $28,000. CBIZ Investment Advisory Services LLC increased its stake in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Graney & King LLC bought a new position in shares of McKesson in the 4th quarter worth $38,000. Finally, CoreFirst Bank & Trust bought a new position in shares of McKesson in the 4th quarter worth $67,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer directly owned 1,972 shares in the company, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the transaction, the executive vice president directly owned 2,800 shares of the company's stock, valued at $2,010,148. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,488 shares of company stock valued at $37,242,862. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MCK shares. Morgan Stanley reiterated an "overweight" rating and issued a $810.00 target price (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Evercore ISI boosted their price target on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Three research 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $710.17.

McKesson Trading Down 0.1%

Shares of NYSE MCK traded down $0.81 during midday trading on Monday, hitting $708.99. The company's stock had a trading volume of 19,433 shares, compared to its average volume of 917,864. The stock has a fifty day moving average price of $716.44 and a 200 day moving average price of $668.27. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The firm has a market capitalization of $88.70 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 1.42 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, 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 company 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 earnings per share. The company's quarterly revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

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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