Envestnet Asset Management Inc. Has $190.35 Million Stake in McKesson Corporation (NYSE:MCK)

Envestnet Asset Management Inc. grew its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 282,844 shares of the company's stock after acquiring an additional 10,877 shares during the quarter. Envestnet Asset Management Inc. owned 0.23% of McKesson worth $190,351,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in McKesson during the fourth quarter worth about $26,000. Millstone Evans Group LLC acquired a new position in McKesson during the fourth quarter worth about $28,000. Atala Financial Inc acquired a new position in McKesson during the fourth quarter worth about $34,000. Graney & King LLC acquired a new position in McKesson during the fourth quarter worth about $38,000. Finally, CoreFirst Bank & Trust acquired a new position in McKesson during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction on 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 transaction, the executive vice president directly owned 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the transaction, the chief executive officer owned 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 over the last quarter. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MCK. Morgan Stanley upped their price objective on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $696.42.

McKesson Price Performance

Shares of MCK stock opened at $723.85 on Wednesday. The business's 50 day simple moving average is $715.21 and its 200 day simple moving average is $659.83. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The stock has a market capitalization of $90.56 billion, a PE ratio of 28.02, a PEG ratio of 1.47 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, topping analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $6.18 EPS. As a group, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's dividend payout ratio is currently 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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