Moloney Securities Asset Management LLC Acquires New Stake in McKesson Corporation (NYSE:MCK)

Moloney Securities Asset Management LLC acquired a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 835 shares of the company's stock, valued at approximately $562,000.

Several other hedge funds have also recently added to or reduced their stakes in MCK. Capital A Wealth Management LLC acquired a new stake in shares of McKesson in the 4th quarter worth $26,000. Millstone Evans Group LLC acquired a new stake in shares of McKesson in the 4th quarter worth $28,000. Atala Financial Inc acquired a new stake in shares of McKesson in the 4th quarter worth $34,000. Graney & King LLC acquired a new stake in shares of McKesson in the 4th quarter worth $38,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of McKesson by 1,840.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock worth $67,000 after acquiring an additional 92 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Bank of America raised their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Morgan Stanley upped their target price on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Finally, Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $706.83.

McKesson Stock Performance

Shares of MCK opened at $714.05 on Friday. The company's 50-day simple moving average is $715.65 and its 200-day simple moving average is $661.24. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The stock has a market capitalization of $89.33 billion, a PE ratio of 27.64, a P/E/G ratio of 1.45 and a beta of 0.48.

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. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period in the prior year, the business earned $6.18 EPS. The firm's quarterly revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the completion of the transaction, the executive vice president owned 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Britt J. Vitalone sold 1,878 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the completion of the sale, the chief financial officer owned 14,028 shares in the company, valued at $10,070,841.48. The trade was a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock worth $23,526,451 over the last quarter. 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.

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