Janney Montgomery Scott LLC Buys 2,508 Shares of McKesson Corporation (NYSE:MCK)

Janney Montgomery Scott LLC lifted its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 5.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,811 shares of the company's stock after purchasing an additional 2,508 shares during the quarter. Janney Montgomery Scott LLC's holdings in McKesson were worth $31,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MCK. GAMMA Investing LLC lifted its stake in shares of McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares in the last quarter. Norges Bank purchased a new position in shares of McKesson during the 4th quarter valued at approximately $1,200,361,000. Farallon Capital Management LLC bought a new position in McKesson during the 4th quarter valued at $348,044,000. Marshall Wace LLP increased its holdings in McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after buying an additional 358,322 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new position in McKesson during the fourth quarter worth $182,861,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Trading Up 0.7%

NYSE MCK traded up $4.90 during trading on Thursday, hitting $729.28. 734,993 shares of the company traded hands, compared to its average volume of 920,688. The company has a market capitalization of $91.24 billion, a P/E ratio of 28.23, a PEG ratio of 1.46 and a beta of 0.49. The business has a fifty day simple moving average of $706.79 and a 200 day simple moving average of $646.38. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $732.99.

McKesson (NYSE:MCK - Get Free Report) last released 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 firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business's revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.18 EPS. Equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given 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 is Monday, June 2nd. McKesson's dividend payout ratio is currently 10.99%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley increased their price target on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Bank of America upped their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $694.38.

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 510 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 5,435 shares in the company, valued at $3,901,840.85. The trade was a 8.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president now owns 2,800 shares of the company's stock, valued at approximately $2,010,148. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by corporate 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.