Parcion Private Wealth LLC Has $790,000 Stock Holdings in McKesson Corporation (NYSE:MCK)

Parcion Private Wealth LLC increased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 93.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,174 shares of the company's stock after acquiring an additional 567 shares during the period. Parcion Private Wealth LLC's holdings in McKesson were worth $790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Capital A Wealth Management LLC bought a new position in McKesson in the fourth quarter valued at $26,000. Millstone Evans Group LLC bought a new position in shares of McKesson in the 4th quarter valued at about $28,000. Graney & King LLC bought a new position in shares of McKesson in the 4th quarter valued at about $38,000. CoreFirst Bank & Trust bought a new position in shares of McKesson in the 4th quarter valued at about $67,000. Finally, Cornerstone Planning Group LLC grew its position 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 valued at $67,000 after acquiring an additional 92 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on MCK. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Morgan Stanley reissued an "overweight" rating and issued a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research report on Wednesday. Finally, Evercore ISI lifted their target price on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $710.17.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president directly owned 2,544 shares in the company, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the transaction, the executive vice president owned 2,621 shares of the company's stock, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,488 shares of company stock worth $37,242,862. 0.08% of the stock is owned by company insiders.

McKesson Price Performance

McKesson stock traded down $0.44 during midday trading on Friday, hitting $709.84. The company's stock had a trading volume of 496,474 shares, compared to its average volume of 919,808. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The company has a 50-day moving average price of $716.44 and a two-hundred day moving average price of $666.89. The company has a market cap of $88.81 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.42 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data 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 net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same quarter in the previous year, the company earned $6.18 EPS. The business's revenue was up 18.9% on a year-over-year basis. Sell-side analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 10.99%.

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.