Cwm LLC Raises Stake in McKesson Corporation (NYSE:MCK)

Cwm LLC grew its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 28.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,822 shares of the company's stock after purchasing an additional 3,053 shares during the quarter. Cwm LLC's holdings in McKesson were worth $9,302,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CVA Family Office LLC lifted its stake in McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company's stock worth $178,000 after acquiring an additional 15 shares during the period. Palisade Asset Management LLC lifted its stake in McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock worth $481,000 after acquiring an additional 15 shares during the period. SteelPeak Wealth LLC lifted its stake in McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock worth $1,867,000 after acquiring an additional 15 shares during the period. Parallel Advisors LLC lifted its stake in McKesson by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after acquiring an additional 16 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its stake in McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after acquiring an additional 17 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In related news, 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 transaction of $244,807.31. Following the completion of the transaction, the executive vice president owned 2,800 shares of the company's stock, valued at approximately $2,010,148. The trade was a 10.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 1,878 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 $1,348,234.98. Following the transaction, the chief financial officer directly owned 14,028 shares of the company's stock, valued at $10,070,841.48. This represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,488 shares of company stock worth $37,242,862 in the last 90 days. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MCK shares. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Bank of America increased 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. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company set a $766.00 target price on McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $706.83.

McKesson Trading Up 1.0%

Shares of NYSE MCK opened at $716.46 on Tuesday. The stock's 50 day simple moving average is $715.87 and its 200 day simple moving average is $664.28. The company has a market cap of $89.64 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion for 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 company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.18 EPS. As a group, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a dividend of $0.71 per share. 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%.

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.

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