Moloney Securities Asset Management LLC Acquires Shares of 835 McKesson Corporation (NYSE:MCK)

Moloney Securities Asset Management LLC acquired a new position in McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 835 shares of the company's stock, valued at approximately $562,000.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC lifted its holdings in shares of McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after purchasing an additional 15 shares in the last quarter. Palisade Asset Management LLC lifted its holdings in shares of McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after purchasing an additional 15 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after purchasing an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after purchasing an additional 17 shares in the last quarter. Finally, Eagle Rock Investment Company LLC lifted its holdings in shares of McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock valued at $3,229,000 after purchasing an additional 17 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the sale, the chief executive officer owned 51,243 shares in the company, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Britt J. Vitalone sold 1,878 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $1,348,234.98. Following the completion of the sale, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock worth $23,526,451 in the last quarter. Company insiders own 0.08% of the company's stock.

McKesson Trading Down 0.8%

Shares of McKesson stock traded down $6.05 on Friday, reaching $708.49. 530,634 shares of the company were exchanged, compared to its average volume of 925,911. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The company has a market capitalization of $88.64 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.43 and a beta of 0.48. The company has a 50-day moving average of $715.65 and a 200 day moving average of $661.24.

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, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same quarter in the prior year, the business posted $6.18 EPS. The business's revenue was up 18.9% compared to the same quarter last year. Analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Analyst Ratings Changes

Several research firms have recently weighed in on MCK. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Evercore ISI boosted their target price on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday. 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. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $706.83.

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.