Perpetual Ltd Grows Stock Holdings in McKesson Corporation (NYSE:MCK)

Perpetual Ltd grew its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 24.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,401 shares of the company's stock after purchasing an additional 464 shares during the period. Perpetual Ltd's holdings in McKesson were worth $1,616,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. CVA Family Office LLC lifted its holdings in shares of McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after purchasing an additional 15 shares during the last quarter. Palisade Asset Management LLC increased its position in shares of McKesson by 2.1% in the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after acquiring an additional 15 shares during the period. Parallel Advisors LLC increased its position in shares of McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after acquiring an additional 16 shares during the period. Frank Rimerman Advisors LLC increased its position in shares of McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after acquiring an additional 17 shares during the period. Finally, Eagle Rock Investment Company LLC increased its position in shares of McKesson by 0.4% in the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock valued at $3,229,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Up 0.6%

Shares of MCK stock traded up $3.99 during mid-day trading on Friday, hitting $725.99. 1,932,878 shares of the stock were exchanged, compared to its average volume of 924,229. The firm has a fifty day moving average of $711.19 and a 200 day moving average of $652.59. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $736.36. The company has a market cap of $90.83 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $94 billion. During the same period in the prior year, the company posted $6.18 EPS. The company's revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. 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%.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's 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 transaction, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the firm's stock in a transaction dated 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 now directly owns 2,621 shares in the company, valued at $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on MCK shares. Bank of America upped their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Finally, Morgan Stanley increased their price target on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $696.42.

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.