Heritage Investors Management Corp Sells 582 Shares of McKesson Corporation (NYSE:MCK)

Heritage Investors Management Corp trimmed its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 20,642 shares of the company's stock after selling 582 shares during the quarter. Heritage Investors Management Corp's holdings in McKesson were worth $13,892,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Capital A Wealth Management LLC bought a new stake in shares of McKesson during the 4th quarter worth $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson during the 4th quarter worth $28,000. CBIZ Investment Advisory Services LLC lifted its position in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after buying an additional 41 shares during the last quarter. Graney & King LLC bought a new stake in shares of McKesson during the 4th quarter worth $38,000. Finally, CoreFirst Bank & Trust acquired a new position in McKesson in the 4th quarter worth about $67,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent research reports. Evercore ISI upped their target price on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. UBS Group upped their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and a consensus target price of $710.17.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 19,371 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer directly owned 27,872 shares in the company, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 341 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president owned 2,800 shares of the company's stock, valued at $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock valued at $37,242,862 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

Shares of NYSE MCK opened at $709.84 on Friday. The stock has a market cap of $88.81 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The stock has a fifty day moving average of $716.44 and a 200-day moving average of $667.56.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company earned $6.18 earnings per share. On average, sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's dividend payout ratio is 10.99%.

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.

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