McKesson Corporation (NYSE:MCK) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 24.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,696 shares of the company's stock after purchasing an additional 1,688 shares during the quarter. Sequoia Financial Advisors LLC's holdings in McKesson were worth $5,852,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. GAMMA Investing LLC increased its stake in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Norges Bank purchased a new stake in shares of McKesson during the fourth quarter worth $1,200,361,000. Farallon Capital Management LLC acquired a new position in McKesson during the fourth quarter worth about $348,044,000. Marshall Wace LLP raised its holdings in McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after acquiring an additional 358,322 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in McKesson in the 4th quarter worth approximately $182,861,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

In other McKesson news, 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 transaction of $895,190.40. Following the transaction, the executive vice president now owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 51,243 shares of the company's stock, valued at $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Morgan Stanley upped their price objective on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. UBS Group lifted their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $696.42.

McKesson Trading Up 0.6%

MCK traded up $3.99 during trading hours on Friday, hitting $725.99. 1,932,878 shares of the company's stock were exchanged, compared to its average volume of 924,229. The firm has a 50 day moving average of $711.19 and a 200 day moving average of $652.59. The firm has a market cap of $90.83 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.49. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $736.36.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share 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%. McKesson's revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.18 EPS. As a group, research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. 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 dividend payout ratio (DPR) is presently 10.99%.

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.