Pallas Capital Advisors LLC Has $2.17 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Pallas Capital Advisors LLC increased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 87.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,225 shares of the company's stock after buying an additional 1,500 shares during the quarter. Pallas Capital Advisors LLC's holdings in McKesson were worth $2,170,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MCK. Capital A Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new position in shares of McKesson in the 4th quarter worth approximately $28,000. Atala Financial Inc bought a new position in McKesson during the 4th quarter valued at about $34,000. Graney & King LLC purchased a new stake in shares of McKesson in the fourth quarter worth approximately $38,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $44,000. Institutional investors own 85.07% of the company's stock.

McKesson Trading Down 0.2%

MCK stock traded down $1.15 during trading on Friday, hitting $729.65. 98,264 shares of the stock traded hands, compared to its average volume of 916,871. The stock has a market cap of $91.29 billion, a price-to-earnings ratio of 33.39, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a one year low of $464.42 and a one year high of $732.09. The company has a 50 day simple moving average of $701.80 and a 200 day simple moving average of $643.67.

McKesson (NYSE:MCK - Get Free Report) last released its 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 negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period last year, the firm earned $6.18 EPS. The business's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. 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%.

Insider Buying and Selling at McKesson

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 sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the sale, the chief executive officer now owns 51,243 shares in the company, 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 have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Mizuho upped their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Morgan Stanley lifted their price objective on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $694.38.

About McKesson

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.