McKesson Corporation (NYSE:MCK) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. decreased its stake in McKesson Corporation (NYSE:MCK - Free Report) by 29.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,619 shares of the company's stock after selling 9,263 shares during the period. Crossmark Global Holdings Inc.'s holdings in McKesson were worth $15,222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MCK. Oppenheimer Asset Management Inc. increased its holdings in McKesson by 54.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after acquiring an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in McKesson by 16.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after acquiring an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in McKesson by 18.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after acquiring an additional 3,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after acquiring an additional 7,556 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in shares of McKesson by 6.3% during the first quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock worth $659,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Up 2.0%

MCK stock opened at $719.30 on Monday. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $736.96. The company has a market capitalization of $89.99 billion, a P/E ratio of 27.85, a PEG ratio of 1.44 and a beta of 0.48. The company has a 50-day simple moving average of $714.17 and a 200 day simple moving average of $658.30.

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, beating analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same period in the prior year, the company earned $6.18 EPS. McKesson's revenue was up 18.9% on a year-over-year basis. Equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Monday, June 2nd. McKesson's dividend payout ratio is presently 10.99%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCK. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Morgan Stanley boosted their target price on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Finally, Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $696.42.

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president directly owned 2,544 shares of the company's stock, valued at $1,811,785.92. This trade represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 1,248 shares of the company's stock in a transaction dated 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 in the company, valued at $1,880,043.30. This represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock valued at $23,526,451 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.

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