M3 Advisory Group LLC Makes New $235,000 Investment in McKesson Corporation (NYSE:MCK)

M3 Advisory Group LLC bought a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 349 shares of the company's stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital A Wealth Management LLC acquired a new stake in McKesson during the fourth quarter worth about $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $28,000. Atala Financial Inc purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $34,000. Graney & King LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $38,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $67,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Morgan Stanley raised their price objective on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Finally, Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $694.38.

McKesson Stock Performance

Shares of MCK stock opened at $720.88 on Monday. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $733.10. The company has a 50 day moving average price of $708.42 and a 200 day moving average price of $648.37. The stock has a market capitalization of $90.19 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.44 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating 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 company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same quarter last year, the company posted $6.18 EPS. The firm's revenue was up 18.9% compared to the same quarter last year. On average, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at $36,173,970.99. This represents a 27.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is currently owned by company 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.

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