GAMMA Investing LLC Acquires 396 Shares of McKesson Corporation (NYSE:MCK)

GAMMA Investing LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 12.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,556 shares of the company's stock after buying an additional 396 shares during the period. GAMMA Investing LLC's holdings in McKesson were worth $2,393,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its position in shares of McKesson by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after buying an additional 222,496 shares during the period. Geode Capital Management LLC boosted its position in McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after acquiring an additional 10,015 shares during the last quarter. Franklin Resources Inc. boosted its position in McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the last quarter. Norges Bank acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $1,200,361,000. Finally, Northern Trust Corp lifted its position in shares of McKesson by 9.0% in the fourth quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock worth $873,218,000 after purchasing an additional 126,940 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MCK shares. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Morgan Stanley upped their target price on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Mizuho raised their price target 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 boosted 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. Finally, Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $696.42.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 510 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $366,134.10. Following the completion of the transaction, the executive vice president now owns 5,435 shares of the company's stock, valued at $3,901,840.85. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer now directly owns 51,243 shares in the company, valued at approximately $36,173,970.99. This represents a 27.43% 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 worth $23,526,451. Corporate insiders own 0.08% of the company's stock.

McKesson Stock Performance

NYSE:MCK traded up $0.90 during mid-day trading on Monday, hitting $726.68. 32,189 shares of the stock were exchanged, compared to its average volume of 923,497. The firm's 50-day simple moving average is $711.19 and its 200 day simple moving average is $653.10. The stock has a market capitalization of $90.92 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.49. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $736.36.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the business earned $6.18 EPS. On average, analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared 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 payout ratio is 10.99%.

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.