Genus Capital Management Inc. Makes New Investment in McKesson Corporation (NYSE:MCK)

Genus Capital Management Inc. purchased a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,074 shares of the company's stock, valued at approximately $8,126,000. McKesson accounts for 1.2% of Genus Capital Management Inc.'s investment portfolio, making the stock its 24th biggest position.

Other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $26,000. Millstone Evans Group LLC bought a new position in shares of McKesson during the 4th quarter worth approximately $28,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $34,000. Graney & King LLC bought a new stake in shares of McKesson in the fourth quarter worth $38,000. Finally, CoreFirst Bank & Trust acquired a new position in McKesson during the fourth quarter worth $67,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In related news, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer directly owned 14,760 shares in the company, valued at $10,587,348. The trade was a 30.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the company'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 completion of the transaction, the chief executive officer directly owned 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. Insiders have sold 33,117 shares of company stock valued at $23,526,451 in the last 90 days. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Morgan Stanley lifted their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Finally, Evercore ISI upped their price objective on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $706.83.

McKesson Price Performance

Shares of McKesson stock opened at $714.05 on Friday. The business has a fifty day simple moving average of $715.65 and a two-hundred day simple moving average of $661.24. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The company has a market capitalization of $89.33 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 1.45 and a beta of 0.48.

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 analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. McKesson's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $6.18 EPS. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. 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.

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