Kestra Private Wealth Services LLC Sells 723 Shares of McKesson Corporation (NYSE:MCK)

Kestra Private Wealth Services LLC decreased its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 15.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,855 shares of the company's stock after selling 723 shares during the period. Kestra Private Wealth Services LLC's holdings in McKesson were worth $2,594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of McKesson by 75,632.7% during the 1st 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 position in shares of McKesson during the fourth quarter worth about $1,200,361,000. Farallon Capital Management LLC bought a new position in McKesson in the fourth quarter worth about $348,044,000. Marshall Wace LLP lifted 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 worth $204,553,000 after acquiring an additional 358,322 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $182,861,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Mizuho upped their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Evercore ISI upped their target price on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson presently has an average rating of "Moderate Buy" and a consensus price target of $710.17.

McKesson Trading Down 0.3%

Shares of MCK stock traded down $2.38 during trading hours on Thursday, hitting $711.62. 325,419 shares of the company were exchanged, compared to its average volume of 879,009. The business has a 50 day moving average of $717.99 and a two-hundred day moving average of $669.79. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The company has a market capitalization of $89.03 billion, a PE ratio of 27.52, a PEG ratio of 1.43 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last announced 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. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same quarter in the prior year, the company posted $6.18 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. On average, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the sale, the executive vice president owned 2,621 shares in the company, valued at $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the sale, the chief executive officer owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. This represents a 41.00% 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 in the last three months. 0.08% of the stock is currently owned by 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.