Morningstar Investment Services LLC Sells 2,637 Shares of McKesson Corporation (NYSE:MCK)

Morningstar Investment Services LLC cut its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 48.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,829 shares of the company's stock after selling 2,637 shares during the quarter. Morningstar Investment Services LLC's holdings in McKesson were worth $1,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its holdings in McKesson by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after buying an additional 222,496 shares in the last quarter. Geode Capital Management LLC grew its holdings in McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after buying an additional 10,015 shares in the last quarter. Franklin Resources Inc. grew its holdings in McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after buying an additional 114,396 shares in the last quarter. GAMMA Investing LLC grew its holdings in McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Finally, Norges Bank acquired a new position in McKesson in the 4th quarter valued at $1,200,361,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the transaction, the chief financial officer directly owned 14,760 shares in the company, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company's stock, valued at $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,488 shares of company stock valued at $37,242,862. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Down 0.1%

McKesson stock traded down $0.44 during trading hours on Friday, hitting $709.84. The stock had a trading volume of 496,474 shares, compared to its average volume of 921,244. The stock has a market cap of $88.81 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.42 and a beta of 0.48. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The business's 50 day simple moving average is $716.44 and its 200-day simple moving average is $667.56.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $6.18 earnings per share. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a report on Wednesday. Mizuho increased their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Bank of America increased 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. Three research 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $710.17.

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.