Fiduciary Financial Group LLC Acquires New Position in McKesson Co. (NYSE:MCK)

Fiduciary Financial Group LLC purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 604 shares of the company's stock, valued at approximately $410,000.

Several other institutional investors have also recently bought and sold shares of MCK. Capital A Wealth Management LLC acquired a new position in McKesson during the 4th quarter valued at about $26,000. Millstone Evans Group LLC bought a new stake in McKesson during the fourth quarter worth $28,000. Atala Financial Inc purchased a new stake in McKesson in the 4th quarter valued at $34,000. Graney & King LLC bought a new position in McKesson during the 4th quarter valued at $38,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson during the 4th quarter worth $44,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value 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 trade represents a 21.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,117 shares of company stock valued at $23,526,451. Corporate insiders own 0.11% of the company's stock.

McKesson Trading Up 1.2%

Shares of MCK stock traded up $8.64 during trading on Thursday, reaching $726.40. 175,468 shares of the company's stock traded hands, compared to its average volume of 916,924. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00. The company has a market capitalization of $90.88 billion, a P/E ratio of 33.26, a PEG ratio of 1.29 and a beta of 0.49. The firm's 50-day moving average is $700.42 and its 200 day moving average is $642.88.

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

McKesson Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson's dividend payout ratio (DPR) is currently 10.99%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCK. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Bank of America upped their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Mizuho boosted 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, Morgan Stanley lifted their target price on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $694.38.

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.