CX Institutional Has $4.33 Million Stock Holdings in McKesson Co. (NYSE:MCK)

CX Institutional decreased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 50.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,435 shares of the company's stock after selling 6,479 shares during the period. CX Institutional's holdings in McKesson were worth $4,331,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MCK. Capital A Wealth Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of McKesson during the fourth quarter worth approximately $28,000. Atala Financial Inc acquired a new stake in shares of McKesson during the fourth quarter worth approximately $34,000. Graney & King LLC acquired a new stake in shares of McKesson during the fourth quarter worth approximately $38,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of McKesson during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MCK shares. Mizuho raised their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report 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 report on Tuesday, June 3rd. UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Morgan Stanley raised their price target on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus price target of $694.38.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the sale, the chief executive officer now directly owns 51,243 shares of the company's stock, valued at $36,173,970.99. The trade was a 27.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the sale, the executive vice president now directly owns 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 have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of NYSE MCK traded down $3.65 during midday trading on Friday, reaching $727.15. 518,101 shares of the stock were exchanged, compared to its average volume of 920,809. The business has a 50-day simple moving average of $703.28 and a two-hundred day simple moving average of $644.50. The company has a market capitalization of $90.98 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $732.99.

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, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.18 EPS. Equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business 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 $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio 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.