McKesson Corporation (NYSE:MCK) Shares Bought by Value Partners Investments Inc.

Value Partners Investments Inc. raised its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 11.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,305 shares of the company's stock after acquiring an additional 425 shares during the quarter. Value Partners Investments Inc.'s holdings in McKesson were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the transaction, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% 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 valued at $23,526,451. 0.11% of the stock is currently owned by corporate insiders.

McKesson Price Performance

NYSE MCK opened at $719.18 on Thursday. The company has a 50 day simple moving average of $710.10 and a 200-day simple moving average of $650.18. The firm has a market capitalization of $89.98 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.44 and a beta of 0.49. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $733.10.

McKesson (NYSE:MCK - Get Free Report) last issued 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 firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $6.18 earnings per share. On average, analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be 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 is Monday, June 2nd. McKesson's payout ratio is presently 10.99%.

Wall Street Analyst Weigh In

A number of analysts have commented on MCK shares. Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Finally, Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and a consensus target price of $696.42.

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.

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