J.W. Cole Advisors Inc. Buys 2,685 Shares of McKesson Corporation (NYSE:MCK)

J.W. Cole Advisors Inc. grew its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 320.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,524 shares of the company's stock after buying an additional 2,685 shares during the period. J.W. Cole Advisors Inc.'s holdings in McKesson were worth $2,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Capital A Wealth Management LLC bought a new stake in shares of McKesson during the fourth quarter valued at about $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson during the fourth quarter valued at about $28,000. CBIZ Investment Advisory Services LLC increased its position in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after buying an additional 41 shares during the period. Graney & King LLC bought a new stake in shares of McKesson during the fourth quarter valued at about $38,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of McKesson during the fourth quarter valued at about $67,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CFO Britt J. Vitalone sold 1,878 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $1,348,234.98. Following the completion of the transaction, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. This represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer owned 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,488 shares of company stock valued at $37,242,862 over the last three months. Insiders own 0.08% of the company's stock.

McKesson Stock Performance

NYSE:MCK opened at $711.19 on Tuesday. The firm has a market cap of $88.98 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The business has a 50 day moving average price of $716.44 and a 200-day moving average price of $668.27.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 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 company had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter last year, the firm posted $6.18 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. Research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MCK shares. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Morgan Stanley reissued an "overweight" rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Bank of America boosted their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, UBS Group boosted their price objective 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, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus target price of $710.17.

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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.