McKesson Corporation (NYSE:MCK) Shares Sold by Diversified Trust Co

Diversified Trust Co lessened its stake in McKesson Corporation (NYSE:MCK - Free Report) by 13.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,080 shares of the company's stock after selling 935 shares during the quarter. Diversified Trust Co's holdings in McKesson were worth $4,092,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Bank of America raised their target price 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. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Finally, Morgan Stanley raised their price objective on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $696.42.

McKesson Trading Up 0.6%

MCK stock traded up $3.99 during trading on Friday, reaching $725.99. The stock had a trading volume of 1,932,878 shares, compared to its average volume of 925,044. The firm has a fifty day moving average price of $710.61 and a 200 day moving average price of $651.09. The company has a market capitalization of $90.83 billion, a P/E ratio of 28.11, a PEG ratio of 1.43 and a beta of 0.49. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $735.96.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $94 billion. During the same period in the previous year, the company earned $6.18 earnings per share. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. Sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is 10.99%.

Insider Activity

In related news, EVP Leann B. Smith sold 1,248 shares of McKesson stock in a transaction dated Thursday, May 22nd. The stock was 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 now directly owns 2,621 shares in the company, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This represents a 21.59% 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 worth $23,526,451. 0.11% of the stock is currently owned by insiders.

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.