Investment Management Associates Inc. ADV Has $16.74 Million Stock Position in McKesson Corporation (NYSE:MCK)

Investment Management Associates Inc. ADV decreased its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 5.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 24,875 shares of the company's stock after selling 1,523 shares during the period. McKesson makes up about 6.8% of Investment Management Associates Inc. ADV's investment portfolio, making the stock its 8th largest position. Investment Management Associates Inc. ADV's holdings in McKesson were worth $16,741,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MCK. CVA Family Office LLC boosted its holdings in McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company's stock worth $178,000 after purchasing an additional 15 shares during the period. Palisade Asset Management LLC boosted its holdings in shares of McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after acquiring an additional 15 shares during the period. Parallel Advisors LLC boosted its holdings in shares of McKesson by 0.6% during the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after acquiring an additional 16 shares during the period. Frank Rimerman Advisors LLC boosted its holdings in shares of McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after acquiring an additional 17 shares during the period. Finally, Eagle Rock Investment Company LLC boosted its holdings in shares of McKesson by 0.4% during the first quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock valued at $3,229,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Down 0.8%

MCK stock traded down $6.05 during trading hours on Friday, hitting $708.49. The company's stock had a trading volume of 530,634 shares, compared to its average volume of 925,911. The company has a market capitalization of $88.64 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.43 and a beta of 0.48. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The stock has a 50 day moving average price of $715.67 and a two-hundred day moving average price of $662.14.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The company 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%. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.18 earnings per share. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a $0.71 dividend. 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MCK shares. Evercore ISI upped their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. Morgan Stanley boosted their target price on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus price target of $706.83.

Insider Buying and Selling at McKesson

In related news, EVP Thomas L. Rodgers sold 2,891 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president directly owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 341 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 2,800 shares of the company's stock, valued at approximately $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 sold 33,117 shares of company stock worth $23,526,451 in the last quarter. 0.08% of the stock is owned by corporate insiders.

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.