Fort Washington Investment Advisors Inc. OH Takes $404,000 Position in McKesson Co. (NYSE:MCK)

Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 600 shares of the company's stock, valued at approximately $404,000.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Bank of America boosted their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Finally, Morgan Stanley upped their price target on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $694.38.

McKesson Stock Down 0.5%

NYSE MCK 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 stock has a market capitalization of $90.98 billion, a PE ratio of 33.29, a price-to-earnings-growth 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. The firm's 50 day moving average price is $703.28 and its 200 day moving average price is $644.37.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during 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 quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the business posted $6.18 earnings per share. On average, research analysts expect that McKesson Co. will post 32.77 EPS for the current 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 dividend of $0.71 per share. The ex-dividend date of this dividend 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 is currently 10.99%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. The trade was a 27.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by corporate insiders.

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.