McKesson Corporation (NYSE:MCK) Shares Sold by West Family Investments Inc.

West Family Investments Inc. cut its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 20.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,427 shares of the company's stock after selling 374 shares during the quarter. West Family Investments Inc.'s holdings in McKesson were worth $960,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MCK. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of McKesson by 6.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 11,325 shares of the company's stock worth $7,621,000 after purchasing an additional 703 shares during the period. Whittier Trust Co. raised its position in McKesson by 0.4% during the 1st quarter. Whittier Trust Co. now owns 14,921 shares of the company's stock worth $10,042,000 after buying an additional 65 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in McKesson during the 1st quarter valued at approximately $299,000. Sigma Planning Corp lifted its stake in McKesson by 1.8% during the 1st quarter. Sigma Planning Corp now owns 2,353 shares of the company's stock valued at $1,584,000 after acquiring an additional 41 shares during the period. Finally, Signaturefd LLC boosted its holdings in McKesson by 4.8% in the first quarter. Signaturefd LLC now owns 4,299 shares of the company's stock valued at $2,893,000 after purchasing an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

Shares of NYSE:MCK traded up $0.99 during trading on Wednesday, reaching $711.81. The stock had a trading volume of 136,666 shares, compared to its average volume of 920,361. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The stock has a market cap of $89.06 billion, a PE ratio of 27.52, a PEG ratio of 1.43 and a beta of 0.48. The business has a fifty day moving average price of $715.86 and a 200-day moving average price of $664.60.

McKesson (NYSE:MCK - Get Free Report) last released 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. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.18 earnings per share. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, June 2nd. McKesson's dividend payout ratio is currently 10.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Morgan Stanley raised their price objective on shares of McKesson from $770.00 to $810.00 and gave the stock an "overweight" rating in a research note on Wednesday. UBS Group lifted their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $710.17.

Insider Buying and Selling

In other news, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the sale, the chief financial officer owned 14,760 shares of the company's stock, valued at approximately $10,587,348. The trade was a 30.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 1,972 shares in the company, valued at $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. Insiders sold a total of 52,488 shares of company stock worth $37,242,862 over the last ninety days. 0.08% of the stock is currently owned by 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.