Colonial River Investments LLC Lowers Stake in McKesson Corporation (NYSE:MCK)

Colonial River Investments LLC cut its stake in McKesson Corporation (NYSE:MCK - Free Report) by 62.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 543 shares of the company's stock after selling 919 shares during the period. Colonial River Investments LLC's holdings in McKesson were worth $365,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new position in shares of McKesson in the 4th quarter worth about $26,000. Millstone Evans Group LLC purchased a new stake in McKesson in the fourth quarter worth approximately $28,000. Atala Financial Inc bought a new position in McKesson during the fourth quarter valued at approximately $34,000. Graney & King LLC purchased a new position in shares of McKesson during the fourth quarter worth approximately $38,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of McKesson during the fourth quarter worth approximately $67,000. Institutional investors own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president now owns 2,621 shares in the company, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by company insiders.

Analyst Ratings Changes

MCK has been the topic of several recent research reports. Morgan Stanley increased their target price 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 raised their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $696.42.

McKesson Stock Up 0.6%

NYSE MCK opened at $725.99 on Friday. The firm has a market capitalization of $90.83 billion, a PE ratio of 28.11, a P/E/G ratio of 1.45 and a beta of 0.49. The stock's 50 day moving average is $711.19 and its 200 day moving average is $652.59. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $736.36.

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 analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter last year, the firm earned $6.18 earnings per share. The business's revenue for the quarter was up 18.9% on a year-over-year basis. On average, research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given 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 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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