McKesson Corporation (NYSE:MCK) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its stake in McKesson Corporation (NYSE:MCK - Free Report) by 26.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,606 shares of the company's stock after purchasing an additional 11,693 shares during the period. Cerity Partners LLC's holdings in McKesson were worth $38,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cornerstone Investment Partners LLC grew its holdings in McKesson by 10.8% during the first quarter. Cornerstone Investment Partners LLC now owns 97,266 shares of the company's stock worth $65,459,000 after acquiring an additional 9,476 shares during the period. Narus Financial Partners LLC grew its holdings in McKesson by 11.7% during the first quarter. Narus Financial Partners LLC now owns 421 shares of the company's stock worth $283,000 after acquiring an additional 44 shares during the period. Allworth Financial LP grew its holdings in McKesson by 50.1% during the first quarter. Allworth Financial LP now owns 5,445 shares of the company's stock worth $3,748,000 after acquiring an additional 1,817 shares during the period. CFO4Life Group LLC acquired a new position in McKesson during the first quarter worth $226,000. Finally, Quotient Wealth Partners LLC grew its holdings in McKesson by 9.5% during the first quarter. Quotient Wealth Partners LLC now owns 403 shares of the company's stock worth $271,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Evercore ISI boosted their target price on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $706.83.

Insider Transactions at McKesson

In related 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 completion of the transaction, the chief accounting officer directly owned 1,972 shares in the company, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were 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 ownership of the stock. 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. Corporate insiders own 0.08% of the company's stock.

McKesson Stock Down 0.8%

Shares of NYSE:MCK opened at $708.49 on Friday. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89. The stock's fifty day simple moving average is $715.67 and its 200-day simple moving average is $662.14. The company has a market capitalization of $88.64 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.43 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same period in the prior year, the business earned $6.18 earnings per share. The business's revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's payout ratio is currently 10.99%.

McKesson 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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.