McKesson Co. (NYSE:MCK) is InTrack Investment Management Inc's 9th Largest Position

InTrack Investment Management Inc decreased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 25.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,696 shares of the company's stock after selling 1,244 shares during the period. McKesson makes up approximately 2.3% of InTrack Investment Management Inc's investment portfolio, making the stock its 9th largest holding. InTrack Investment Management Inc's holdings in McKesson were worth $2,488,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MCK. Capital A Wealth Management LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $28,000. Atala Financial Inc acquired a new position in McKesson in the fourth quarter valued at approximately $34,000. Graney & King LLC acquired a new position in McKesson in the fourth quarter valued at approximately $38,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of analyst reports. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Morgan Stanley boosted their price target on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday. Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. UBS Group boosted their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Bank of America boosted their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $694.38.

McKesson Price Performance

NYSE MCK traded up $12.63 during mid-day trading on Thursday, hitting $730.39. The stock had a trading volume of 673,308 shares, compared to its average volume of 920,080. The firm's 50 day moving average is $701.80 and its 200 day moving average is $643.67. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.18. The stock has a market capitalization of $91.38 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same period in the prior year, the company earned $6.18 EPS. The firm's revenue was up 18.9% compared to the same quarter last year. As a group, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 510 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 transaction of $366,134.10. Following the completion of the transaction, the executive vice president now directly owns 5,435 shares in the company, valued at approximately $3,901,840.85. This represents a 8.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock valued at $23,526,451 in the last three months. 0.11% 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.