Warther Private Wealth LLC Sells 20,384 Shares of McKesson Co. (NYSE:MCK)

Warther Private Wealth LLC reduced its position in McKesson Co. (NYSE:MCK - Free Report) by 91.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,019 shares of the company's stock after selling 20,384 shares during the quarter. McKesson makes up 0.4% of Warther Private Wealth LLC's portfolio, making the stock its 19th largest holding. Warther Private Wealth LLC's holdings in McKesson were worth $1,359,000 at the end of the most recent quarter.

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

McKesson Trading Down 1.2%

Shares of MCK traded down $8.67 on Monday, reaching $719.53. 556,461 shares of the company's stock were exchanged, compared to its average volume of 919,352. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $732.99. The stock has a market capitalization of $90.02 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The business has a 50 day moving average price of $703.28 and a two-hundred day moving average price of $644.62.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. McKesson's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the company posted $6.18 EPS. Equities research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's dividend payout ratio is presently 10.99%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MCK. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Finally, Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $694.38.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at $36,173,970.99. This represents a 27.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by corporate 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.