McKesson Corporation (NYSE:MCK) Stock Holdings Cut by Invesco LLC

Invesco LLC decreased its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 13.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,075 shares of the company's stock after selling 1,283 shares during the period. McKesson comprises approximately 2.2% of Invesco LLC's investment portfolio, making the stock its 10th biggest holding. Invesco LLC's holdings in McKesson were worth $5,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. GAMMA Investing LLC increased its stake in shares of McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after purchasing an additional 2,389,992 shares during the period. Norges Bank bought a new stake in shares of McKesson in the fourth quarter valued at about $1,200,361,000. Farallon Capital Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at about $348,044,000. Marshall Wace LLP raised its stake in McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after purchasing an additional 358,322 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new stake in McKesson in the 4th quarter valued at about $182,861,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 0.0%

MCK stock traded down $0.25 during trading on Tuesday, hitting $721.58. The company had a trading volume of 530,919 shares, compared to its average volume of 920,513. McKesson Corporation has a one year low of $464.42 and a one year high of $733.10. The business has a 50-day moving average of $708.99 and a 200-day moving average of $649.20. The stock has a market cap of $90.28 billion, a PE ratio of 27.94, a PEG ratio of 1.44 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $6.18 earnings per share. Research analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th. Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Mizuho raised their target price 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, UBS Group increased their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $694.38.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $244,807.31. Following the completion of the sale, the executive vice president now owns 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business'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 sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock valued at $23,526,451 in the last quarter. 0.11% of the stock is currently owned by company 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.