M3 Advisory Group LLC Takes Position in McKesson Corporation (NYSE:MCK)

M3 Advisory Group LLC purchased a new position in McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 349 shares of the company's stock, valued at approximately $235,000.

A number of other large investors have also recently made changes to their positions in MCK. GAMMA Investing LLC grew its stake in shares of McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Norges Bank bought a new stake in shares of McKesson in the fourth quarter worth approximately $1,200,361,000. Farallon Capital Management LLC bought a new stake in shares of McKesson in the fourth quarter worth approximately $348,044,000. Marshall Wace LLP grew its stake in shares of 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 period. Finally, Leigh Baldwin & CO. LLC bought a new stake in shares of McKesson in the fourth quarter worth approximately $182,861,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.6%

NYSE:MCK traded up $4.33 during trading hours on Thursday, hitting $722.74. 640,077 shares of the stock traded hands, compared to its average volume of 921,013. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $733.10. The company has a market cap of $90.42 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. The stock has a 50 day moving average price of $710.61 and a 200 day moving average price of $651.09.

McKesson (NYSE:MCK - Get Free Report) last released 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 firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the firm earned $6.18 earnings per share. The company's quarterly revenue was up 18.9% compared to the same quarter last year. Equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer now owns 51,243 shares in the company, valued at $36,173,970.99. This trade represents a 27.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,117 shares of company stock worth $23,526,451. Insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports 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 report on Tuesday, June 3rd. Bank of America raised their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. UBS Group raised their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Morgan Stanley raised their price objective on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $696.42.

McKesson 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.