McKesson Co. (NYSE:MCK) Holdings Decreased by Tobam

Tobam trimmed its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 25.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,686 shares of the company's stock after selling 3,385 shares during the quarter. McKesson comprises approximately 2.8% of Tobam's investment portfolio, making the stock its 6th biggest position. Tobam's holdings in McKesson were worth $6,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after acquiring an additional 16 shares during the period. Frank Rimerman Advisors LLC boosted its stake in McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after purchasing an additional 17 shares during the period. Eagle Rock Investment Company LLC boosted its stake in McKesson by 0.4% in the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock worth $3,229,000 after purchasing an additional 17 shares during the period. Hemington Wealth Management boosted its stake in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after purchasing an additional 18 shares during the period. Finally, First Western Trust Bank boosted its stake in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

McKesson stock traded down $8.67 during trading hours on Monday, reaching $719.53. The company had a trading volume of 556,461 shares, compared to its average volume of 919,352. The company has a 50-day moving average price of $704.62 and a 200 day moving average price of $645.26. The firm has a market cap of $90.02 billion, a price-to-earnings ratio of 32.95, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $732.99.

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

McKesson Dividend Announcement

The business 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. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is currently 10.99%.

Analyst Ratings Changes

Several research analysts have commented on MCK shares. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Morgan Stanley raised their price target on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Bank of America raised 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. Finally, UBS Group raised 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. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $694.38.

Insider Activity 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 transaction, the chief accounting officer now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas L. Rodgers sold 510 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $366,134.10. Following the transaction, the executive vice president now directly owns 5,435 shares in the company, valued at approximately $3,901,840.85. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock worth $23,526,451 over the last quarter. Corporate insiders own 0.11% of the company's stock.

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.