Los Angeles Capital Management LLC Purchases 47,289 Shares of McKesson Corporation (NYSE:MCK)

Los Angeles Capital Management LLC boosted its position in McKesson Corporation (NYSE:MCK - Free Report) by 2,482.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,194 shares of the company's stock after purchasing an additional 47,289 shares during the quarter. Los Angeles Capital Management LLC's holdings in McKesson were worth $33,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC increased its stake in McKesson by 6.0% during the first quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after purchasing an additional 15 shares during the last quarter. Palisade Asset Management LLC increased its stake in McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after purchasing an additional 15 shares during the last quarter. SteelPeak Wealth LLC increased its position in McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock worth $1,867,000 after buying an additional 15 shares during the period. Parallel Advisors LLC increased its position in McKesson by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after buying an additional 16 shares during the period. Finally, Eagle Rock Investment Company LLC increased its position in McKesson by 0.4% in the first quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock worth $3,229,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK stock traded up $1.39 during trading on Monday, reaching $711.19. The company had a trading volume of 395,779 shares, compared to its average volume of 919,143. The firm's 50 day simple moving average is $716.44 and its two-hundred day simple moving average is $668.27. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The company has a market capitalization of $88.98 billion, a PE ratio of 21.44, a PEG ratio of 1.42 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for 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 for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the business posted $6.18 EPS. Analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Wall Street Analyst Weigh In

MCK has been the topic of several research analyst reports. Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Evercore ISI lifted their target price on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $710.17.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 341 shares of the business's 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 owned 2,800 shares of the company's stock, valued at $2,010,148. The trade was a 10.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the sale, the chief executive officer directly owned 27,872 shares in the company, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock worth $37,242,862 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.