IFM Investors Pty Ltd Increases Stock Position in McKesson Corporation (NYSE:MCK)

IFM Investors Pty Ltd boosted its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 10.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,140 shares of the company's stock after acquiring an additional 2,567 shares during the quarter. IFM Investors Pty Ltd's holdings in McKesson were worth $17,592,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in shares of McKesson in the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC purchased a new position in McKesson in the 4th quarter valued at approximately $28,000. Atala Financial Inc purchased a new position in McKesson in the 4th quarter valued at approximately $34,000. Graney & King LLC acquired a new position in shares of McKesson in the fourth quarter worth $38,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of McKesson during the fourth quarter worth $67,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE MCK traded up $13.85 during trading hours on Friday, hitting $719.30. The company had a trading volume of 392,096 shares, compared to its average volume of 924,875. The business has a 50 day moving average of $713.68 and a 200-day moving average of $656.07. The company has a market cap of $89.99 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.44 and a beta of 0.48. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $736.96.

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 the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company's revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company earned $6.18 earnings per share. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. UBS Group raised their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $696.42.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the sale, the chief executive officer owned 51,243 shares in the company, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 1,248 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president directly owned 2,621 shares in the company, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 in the last three months. Company insiders own 0.08% of the company's stock.

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.