Dover Advisors LLC Takes Position in McKesson Co. (NYSE:MCK)

Dover Advisors LLC acquired a new position in McKesson Co. (NYSE:MCK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 585 shares of the company's stock, valued at approximately $394,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 2,389,992 shares during the period. Norges Bank acquired a new position in shares of McKesson during the fourth quarter valued at $1,200,361,000. Farallon Capital Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at $348,044,000. Marshall Wace LLP lifted its stake in shares of McKesson by 59,720.3% during the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after acquiring an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new position in shares of McKesson during the fourth quarter valued at $182,861,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Morgan Stanley increased their price target on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday. Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and an average target price of $694.38.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the 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 sale, the chief accounting officer now owns 1,972 shares of the company's stock, 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 through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the 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 $895,190.40. Following the sale, the executive vice president now directly owns 2,621 shares in the company, valued at $1,880,043.30. This represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by insiders.

McKesson Stock Down 0.5%

Shares of NYSE:MCK traded down $3.65 during midday trading on Friday, reaching $727.15. The company had a trading volume of 518,101 shares, compared to its average volume of 920,038. The business's 50 day moving average price is $703.28 and its 200 day moving average price is $644.37. The stock has a market cap of $90.98 billion, a PE ratio of 33.29, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $732.99.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.18 earnings per share. On average, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is 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.