NBC Securities Inc. Grows Position in McKesson Co. (NYSE:MCK)

NBC Securities Inc. lifted its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 106,150.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,125 shares of the company's stock after acquiring an additional 2,123 shares during the quarter. NBC Securities Inc.'s holdings in McKesson were worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of MCK. Capital A Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson during the fourth quarter worth approximately $28,000. Atala Financial Inc acquired a new stake in McKesson in the fourth quarter valued at approximately $34,000. Graney & King LLC purchased a new position in McKesson in the fourth quarter worth approximately $38,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 510 shares of McKesson 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 of the company's stock, valued at approximately $3,901,840.85. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now directly owns 1,972 shares in the company, valued at $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,747 shares of company stock worth $9,852,587. Company insiders own 0.11% of the company's stock.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of McKesson from $691.00 to $766.00 and gave the stock an "equal weight" rating in a research report on Tuesday. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Finally, Bank of America increased 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, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $692.46.

McKesson Stock Performance

MCK traded down $4.94 during trading on Wednesday, hitting $709.94. The stock had a trading volume of 644,590 shares, compared to its average volume of 914,044. The firm has a market capitalization of $88.82 billion, a P/E ratio of 32.51, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00. The company's 50-day moving average price is $697.33 and its 200 day moving average price is $639.30.

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 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period in the prior year, the company posted $6.18 earnings per share. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson's dividend payout ratio (DPR) is presently 10.99%.

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.