KG&L Capital Management LLC Has $219,000 Position in McKesson Corporation (NYSE:MCK)

KG&L Capital Management LLC trimmed its position in McKesson Corporation (NYSE:MCK - Free Report) by 57.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325 shares of the company's stock after selling 430 shares during the period. KG&L Capital Management LLC's holdings in McKesson were worth $219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its position in shares of McKesson by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after purchasing an additional 222,496 shares during the period. Geode Capital Management LLC increased its stake in McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after purchasing an additional 10,015 shares in the last quarter. Franklin Resources Inc. raised its holdings in McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after buying an additional 114,396 shares during the period. GAMMA Investing LLC lifted its stake in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of McKesson in the fourth quarter valued at approximately $1,200,361,000. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Finally, Morgan Stanley boosted their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $696.42.

McKesson Stock Up 0.6%

Shares of NYSE MCK traded up $3.99 during trading hours on Friday, hitting $725.99. The company had a trading volume of 1,932,878 shares, compared to its average volume of 925,044. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $735.96. The firm's 50 day moving average is $710.61 and its 200-day moving average is $651.09. The stock has a market capitalization of $90.83 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49.

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 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 firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period in the prior year, the firm posted $6.18 earnings per share. The company's quarterly revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio is 10.99%.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 510 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $366,134.10. Following the transaction, the executive vice president now directly owns 5,435 shares of the company's stock, valued at $3,901,840.85. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $13,673,864.10. Following the sale, the chief executive officer now owns 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 sold a total of 33,117 shares of company stock valued at $23,526,451 over the last three months. Insiders own 0.11% of the company's stock.

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.