McKesson Co. (NYSE:MCK) Stock Holdings Lowered by CGN Advisors LLC

CGN Advisors LLC cut its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,824 shares of the company's stock after selling 472 shares during the period. CGN Advisors LLC's holdings in McKesson were worth $3,247,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Brentview Investment Management LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $3,018,000. Ingalls & Snyder LLC increased its position in shares of McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of McKesson by 85.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock valued at $745,000 after buying an additional 580 shares during the last quarter. E. Ohman J or Asset Management AB boosted its holdings in McKesson by 12.8% during the 4th quarter. E. Ohman J or Asset Management AB now owns 5,800 shares of the company's stock valued at $3,305,000 after acquiring an additional 660 shares during the period. Finally, Portfolio Design Labs LLC purchased a new stake in McKesson in the fourth quarter worth $274,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $895,190.40. Following the sale, the executive vice president now directly owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction dated Monday, May 19th. The stock was 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 in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,747 shares of company stock valued at $9,852,587 over the last ninety days. Corporate insiders own 0.11% of the company's stock.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on McKesson from $691.00 to $766.00 and gave the company an "equal weight" rating in a report on Tuesday. Bank of America upped their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Three 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. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $692.46.

McKesson Stock Down 0.7%

Shares of McKesson stock traded down $4.94 on Wednesday, hitting $709.94. The company's stock had a trading volume of 644,590 shares, compared to its average volume of 914,044. The firm has a fifty day moving average price of $697.33 and a 200-day moving average price of $639.30. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00. The company has a market capitalization of $88.82 billion, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter in the previous year, the business posted $6.18 earnings per share. The company's revenue was up 18.9% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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 issued a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's payout ratio is 10.99%.

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.