Principal Financial Group Inc. Sells 480 Shares of McKesson Corporation (NYSE:MCK)

Principal Financial Group Inc. trimmed its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 0.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 284,168 shares of the company's stock after selling 480 shares during the quarter. Principal Financial Group Inc. owned 0.23% of McKesson worth $191,242,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in McKesson by 75,632.7% during the first 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 during the last quarter. Norges Bank bought a new stake in McKesson during the fourth quarter worth $1,200,361,000. Farallon Capital Management LLC purchased a new position in McKesson during the 4th quarter worth $348,044,000. Marshall Wace LLP grew its stake in shares of McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after acquiring an additional 358,322 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $182,861,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of MCK traded up $13.85 during mid-day trading on Friday, hitting $719.30. The stock had a trading volume of 392,096 shares, compared to its average volume of 924,875. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $736.96. The business has a fifty day moving average price of $713.68 and a 200-day moving average price of $656.07. The firm has a market cap of $89.99 billion, a P/E ratio of 27.85, a PEG ratio of 1.41 and a beta of 0.48.

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, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business posted $6.18 EPS. As a group, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors 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 dividend yield of 0.39%. The ex-dividend date was Monday, June 2nd. McKesson's payout ratio is currently 10.99%.

Analyst Ratings Changes

Several research firms recently weighed in on MCK. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley upped their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $696.42.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer owned 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 1,248 shares of the firm's stock in a transaction on 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 directly owned 2,621 shares of the company's stock, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 in the last 90 days. 0.11% of the stock is currently owned by company 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.