OLD National Bancorp IN Has $5.21 Million Holdings in McKesson Co. (NYSE:MCK)

OLD National Bancorp IN cut its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,741 shares of the company's stock after selling 455 shares during the quarter. OLD National Bancorp IN's holdings in McKesson were worth $5,210,000 as of its most recent SEC filing.

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

McKesson Stock Performance

MCK traded up $11.89 during trading hours on Wednesday, reaching $716.75. The company's stock had a trading volume of 782,971 shares, compared to its average volume of 919,797. The company's 50-day moving average is $700.42 and its 200-day moving average is $642.88. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00. The firm has a market cap of $89.67 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm 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%. The company's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the company earned $6.18 earnings per share. Equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 341 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 value of $244,807.31. Following the sale, the executive vice president now directly owns 2,800 shares of the company's stock, valued at $2,010,148. This represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 over the last three months. Insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. UBS Group upped their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Morgan Stanley boosted their price target on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Three equities 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 data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus 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.