McKesson Co. (NYSE:MCK) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its stake in McKesson Co. (NYSE:MCK - Free Report) by 20.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,526 shares of the company's stock after purchasing an additional 427 shares during the quarter. Farther Finance Advisors LLC's holdings in McKesson were worth $1,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Range Financial Group LLC lifted its stake in shares of McKesson by 7.1% in the first quarter. Range Financial Group LLC now owns 796 shares of the company's stock worth $536,000 after buying an additional 53 shares in the last quarter. Moss Adams Wealth Advisors LLC purchased a new position in shares of McKesson in the first quarter worth about $222,000. Greystone Financial Group LLC lifted its stake in shares of McKesson by 0.7% in the first quarter. Greystone Financial Group LLC now owns 16,433 shares of the company's stock worth $11,059,000 after buying an additional 108 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in shares of McKesson by 6.9% in the first quarter. Toth Financial Advisory Corp now owns 17,183 shares of the company's stock worth $11,564,000 after buying an additional 1,104 shares in the last quarter. Finally, Abacus Planning Group Inc. purchased a new position in shares of McKesson in the first quarter worth about $205,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of McKesson stock traded down $3.65 on Friday, reaching $727.15. The company had a trading volume of 518,101 shares, compared to its average volume of 920,038. The firm's 50 day moving average price is $703.28 and its two-hundred day moving average price is $644.37. The firm has a market cap of $90.98 billion, a PE ratio of 33.29, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $732.99.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business's revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm earned $6.18 EPS. As a group, sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid 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 is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 10.99%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson 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 completion of the transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Morgan Stanley lifted their target price on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Bank of America lifted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $694.38.

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.