Penserra Capital Management LLC Has $427,000 Stake in McKesson Corporation (NYSE:MCK)

Penserra Capital Management LLC reduced its stake in McKesson Corporation (NYSE:MCK - Free Report) by 59.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 636 shares of the company's stock after selling 940 shares during the quarter. Penserra Capital Management LLC's holdings in McKesson were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of McKesson in the fourth quarter worth $26,000. Millstone Evans Group LLC bought a new position in McKesson in the 4th quarter worth approximately $28,000. Atala Financial Inc bought a new stake in McKesson in the 4th quarter valued at $34,000. Graney & King LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $38,000. Finally, CoreFirst Bank & Trust purchased a new position in McKesson in the fourth quarter worth about $67,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer owned 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,117 shares of company stock valued at $23,526,451. 0.08% of the stock is currently owned by insiders.

McKesson Price Performance

McKesson stock traded down $6.05 during midday trading on Friday, hitting $708.49. 530,634 shares of the company were exchanged, compared to its average volume of 676,499. The company has a market cap of $88.64 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 1.43 and a beta of 0.48. The company's fifty day moving average price is $715.65 and its 200-day moving average price is $661.24. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $6.18 earnings per share. On average, analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCK. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. Bank of America lifted their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. UBS Group increased their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley upped their price objective on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $706.83.

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.