McKesson Co. (NYSE:MCK) Stock Holdings Lowered by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC cut its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 6.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,905 shares of the company's stock after selling 515 shares during the quarter. Insight Wealth Strategies LLC's holdings in McKesson were worth $5,320,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MCK. Brighton Jones LLC grew its holdings in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the period. Geneos Wealth Management Inc. grew its holdings in McKesson by 5.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,144 shares of the company's stock valued at $652,000 after purchasing an additional 61 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in McKesson by 38.3% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 2,109 shares of the company's stock valued at $1,202,000 after purchasing an additional 584 shares during the period. Pacer Advisors Inc. grew its holdings in McKesson by 18.0% in the fourth quarter. Pacer Advisors Inc. now owns 19,279 shares of the company's stock valued at $10,987,000 after purchasing an additional 2,935 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in McKesson by 9.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,578 shares of the company's stock valued at $899,000 after purchasing an additional 132 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 1.0%

Shares of NYSE MCK traded up $6.99 during trading on Friday, reaching $719.85. 1,322,227 shares of the stock were exchanged, compared to its average volume of 917,774. The business's 50-day moving average price is $695.18 and its 200 day moving average price is $637.67. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00. The company has a market capitalization of $90.06 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $6.18 earnings per share. As a group, sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio is presently 10.99%.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 510 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $366,134.10. Following the sale, the executive vice president now directly owns 5,435 shares of the company's stock, valued at $3,901,840.85. This represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now directly owns 1,972 shares in the company, valued at $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. Insiders have sold 10,856 shares of company stock valued at $7,793,675 over the last ninety days. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MCK. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company boosted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $686.69.

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.