Optas LLC Invests $260,000 in McKesson Co. (NYSE:MCK)

Optas LLC purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 386 shares of the company's stock, valued at approximately $260,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of McKesson by 8.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after purchasing an additional 222,496 shares during the period. Geode Capital Management LLC increased its stake in McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after buying an additional 10,015 shares during the period. Franklin Resources Inc. raised its position in McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after buying an additional 114,396 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of McKesson during the fourth quarter worth about $1,200,361,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of MCK opened at $727.15 on Monday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $732.99. The stock has a market cap of $90.98 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The firm has a 50 day simple moving average of $703.28 and a 200-day simple moving average of $644.62.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter last year, the business posted $6.18 earnings per share. McKesson's revenue was up 18.9% compared to the same quarter last year. On average, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is presently 10.99%.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Morgan Stanley raised their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Finally, Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus price target of $694.38.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The stock was 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 in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the firm's 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 now owns 51,243 shares in the company, valued at $36,173,970.99. This trade represents a 27.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.11% of the company's stock.

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.

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