Kintegral Advisory LLC trimmed its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 32.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 756 shares of the company's stock after selling 370 shares during the quarter. Kintegral Advisory LLC's holdings in McKesson were worth $509,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SMART Wealth LLC bought a new position in McKesson in the 1st quarter worth about $236,000. Burling Wealth Partners LLC bought a new position in McKesson in the 1st quarter worth about $202,000. IFM Investors Pty Ltd increased its stake in McKesson by 10.9% in the 1st quarter. IFM Investors Pty Ltd now owns 26,140 shares of the company's stock worth $17,592,000 after acquiring an additional 2,567 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in McKesson by 1.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 2,391 shares of the company's stock worth $1,609,000 after acquiring an additional 40 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its holdings in shares of McKesson by 14.1% in the 1st quarter. Calamos Wealth Management LLC now owns 5,335 shares of the company's stock worth $3,590,000 after purchasing an additional 658 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Morgan Stanley increased 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. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $696.42.
Get Our Latest Report on MCK
McKesson Trading Up 2.0%
Shares of NYSE:MCK traded up $13.85 on Friday, reaching $719.30. The company had a trading volume of 392,096 shares, compared to its average volume of 926,752. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $736.96. The firm's 50 day simple moving average is $714.17 and its 200-day simple moving average is $657.75. The firm has a market capitalization of $89.99 billion, a PE ratio of 27.85, a PEG ratio of 1.44 and a beta of 0.48.
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, topping analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $6.18 EPS. As a group, equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.
McKesson Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's dividend payout ratio (DPR) is presently 10.99%.
Insiders Place Their Bets
In other news, EVP Leann B. Smith sold 1,248 shares of the business'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 completion of the transaction, the executive vice president owned 2,621 shares of the company's stock, valued at $1,880,043.30. The trade was a 32.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president directly owned 2,544 shares of the company's stock, valued at $1,811,785.92. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,117 shares of company stock worth $23,526,451. 0.08% of the stock is currently owned by company insiders.
About McKesson
(
Free Report)
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.
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