MQS Management LLC Takes $487,000 Position in McKesson Corporation (NYSE:MCK)

MQS Management LLC acquired a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 723 shares of the company's stock, valued at approximately $487,000.

Several other large investors have also recently added to or reduced their stakes in the business. CWM LLC lifted its stake in McKesson by 28.3% in the first quarter. CWM LLC now owns 13,822 shares of the company's stock worth $9,302,000 after acquiring an additional 3,053 shares during the last quarter. TFR Capital LLC. purchased a new stake in shares of McKesson during the 1st quarter worth $1,584,000. Oxbow Advisors LLC grew its stake in shares of McKesson by 1.3% during the first quarter. Oxbow Advisors LLC now owns 5,358 shares of the company's stock worth $3,606,000 after purchasing an additional 67 shares in the last quarter. Schear Investment Advisers LLC increased its holdings in McKesson by 9.7% in the first quarter. Schear Investment Advisers LLC now owns 2,497 shares of the company's stock valued at $1,680,000 after buying an additional 220 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in McKesson by 278.9% in the first quarter. Stephens Inc. AR now owns 5,467 shares of the company's stock valued at $3,679,000 after buying an additional 4,024 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 341 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president owned 2,800 shares of the company's stock, valued at approximately $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction on 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 of the company's stock, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,117 shares of company stock worth $23,526,451. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on MCK shares. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Evercore ISI raised their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Bank of America boosted 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. Finally, Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Three 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 a consensus rating of "Moderate Buy" and an average price target of $706.83.

McKesson Stock Down 0.8%

MCK opened at $708.49 on Monday. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The business has a 50 day moving average price of $715.67 and a two-hundred day moving average price of $663.30. The company has a market cap of $88.64 billion, a PE ratio of 27.43, a P/E/G ratio of 1.42 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating 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 firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter last year, the firm earned $6.18 earnings per share. The firm's revenue was up 18.9% compared to the same quarter last year. As a group, sell-side analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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. 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 is currently 10.99%.

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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