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

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

Several other large investors also recently bought and sold shares of MCK. CVA Family Office LLC lifted its position in shares of McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after buying an additional 15 shares in the last quarter. Palisade Asset Management LLC lifted its position in shares of McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after buying an additional 15 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after buying an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after buying an additional 17 shares in the last quarter. Finally, Eagle Rock Investment Company LLC lifted its position in shares of McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock valued at $3,229,000 after buying an additional 17 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 1.8%

Shares of McKesson stock opened at $714.05 on Friday. The stock's fifty day moving average is $715.65 and its two-hundred day moving average is $661.24. The company has a market capitalization of $89.33 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89.

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

McKesson Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. Evercore ISI boosted their price target on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, UBS Group boosted their price target on 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 assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $706.83.

Insider Activity at McKesson

In related news, CFO Britt J. Vitalone sold 1,878 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the sale, the chief financial officer owned 14,028 shares of the company's stock, valued at $10,070,841.48. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the sale, the chief executive officer directly owned 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock valued at $23,526,451 over the last 90 days. Company insiders own 0.08% of the company's stock.

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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