Graphene Investments SAS Has $2.89 Million Stake in McKesson Corporation (NYSE:MCK)

Graphene Investments SAS lessened its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 17.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,300 shares of the company's stock after selling 900 shares during the quarter. McKesson comprises approximately 2.1% of Graphene Investments SAS's holdings, making the stock its 18th largest position. Graphene Investments SAS's holdings in McKesson were worth $2,894,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital A Wealth Management LLC bought a new position in McKesson in the 4th quarter valued at about $26,000. Millstone Evans Group LLC acquired a new stake in shares of McKesson in the 4th quarter worth approximately $28,000. Atala Financial Inc bought a new position in shares of McKesson in the fourth quarter valued at approximately $34,000. Graney & King LLC acquired a new position in shares of McKesson during the fourth quarter valued at approximately $38,000. Finally, CoreFirst Bank & Trust bought a new stake in McKesson during the fourth quarter worth approximately $67,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Up 0.6%

Shares of MCK traded up $3.99 during mid-day trading on Friday, reaching $725.99. The company's stock had a trading volume of 1,932,878 shares, compared to its average volume of 925,044. The company has a market cap of $90.83 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. The business has a fifty day moving average of $710.61 and a 200 day moving average of $651.09. 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 quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm 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 business earned $6.18 EPS. The business's revenue for the quarter was up 18.9% on a year-over-year basis. On average, analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

MCK has been the topic of several research analyst reports. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 14th. 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. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $696.42.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the business's 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 completion of the sale, the executive vice president now directly owns 2,544 shares of the company's stock, valued at $1,811,785.92. The trade was 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 hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction 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. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

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.