Mission Wealth Management LP Sells 420 Shares of McKesson Co. (NYSE:MCK)

Mission Wealth Management LP reduced its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,066 shares of the company's stock after selling 420 shares during the period. Mission Wealth Management LP's holdings in McKesson were worth $1,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Capital A Wealth Management LLC bought a new position in shares of McKesson during the fourth quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in McKesson during the 4th quarter valued at approximately $28,000. Atala Financial Inc bought a new position in McKesson during the 4th quarter worth approximately $34,000. Graney & King LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $38,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson in the 4th quarter valued at $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction that occurred on Friday, June 6th. The shares were 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 of the company's stock, valued at $36,173,970.99. This trade represents a 27.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 now directly owns 1,972 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders have sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on MCK. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Morgan Stanley raised their target price on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Bank of America raised their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $694.38.

McKesson Stock Performance

MCK stock opened at $719.53 on Tuesday. The company has a market capitalization of $90.02 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $732.99. The business has a 50-day simple moving average of $704.62 and a two-hundred day simple moving average of $645.26.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results 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. The business 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 181.26% and a net margin of 0.82%. McKesson's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.18 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

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.

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