SBI Securities Co. Ltd. Sells 407 Shares of McKesson Corporation (NYSE:MCK)

SBI Securities Co. Ltd. decreased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 74.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 140 shares of the company's stock after selling 407 shares during the period. SBI Securities Co. Ltd.'s holdings in McKesson were worth $94,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sigma Planning Corp boosted its position in McKesson by 1.8% in the first quarter. Sigma Planning Corp now owns 2,353 shares of the company's stock worth $1,584,000 after purchasing an additional 41 shares during the last quarter. Signaturefd LLC boosted its position in McKesson by 4.8% in the first quarter. Signaturefd LLC now owns 4,299 shares of the company's stock worth $2,893,000 after purchasing an additional 197 shares during the last quarter. Edgestream Partners L.P. boosted its position in McKesson by 1,058.8% in the first quarter. Edgestream Partners L.P. now owns 11,252 shares of the company's stock worth $7,572,000 after purchasing an additional 10,281 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its position in McKesson by 10.4% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,059 shares of the company's stock worth $713,000 after purchasing an additional 100 shares during the last quarter. Finally, MQS Management LLC purchased a new position in McKesson in the first quarter worth $487,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley reissued an "overweight" rating and issued a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research report on Wednesday. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Bank of America boosted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $710.17.

McKesson Stock Down 0.1%

MCK traded down $0.44 during trading on Friday, reaching $709.84. 496,474 shares of the company were exchanged, compared to its average volume of 921,244. The company's 50-day moving average is $716.44 and its two-hundred day moving average is $667.56. The company 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 12-month low of $464.42 and a 12-month high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data 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 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.18 EPS. Equities analysts forecast 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 was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson's dividend payout ratio (DPR) is 10.99%.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president directly owned 2,544 shares in the company, valued at $1,811,785.92. This represents a 53.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of the company's 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 owned 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,488 shares of company stock worth $37,242,862. 0.08% of the stock is owned by corporate insiders.

McKesson 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.