Petra Financial Advisors Inc. Acquires Shares of 481 McKesson Corporation (NYSE:MCK)

Petra Financial Advisors Inc. acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 481 shares of the company's stock, valued at approximately $324,000.

Several other large investors have also recently modified their holdings of the company. PFG Investments LLC bought a new position in shares of McKesson during the 1st quarter worth approximately $206,000. Advisor Resource Council bought a new position in shares of McKesson during the 1st quarter worth approximately $4,701,000. Meriwether Wealth & Planning LLC raised its stake in shares of McKesson by 12.6% during the 1st quarter. Meriwether Wealth & Planning LLC now owns 1,253 shares of the company's stock worth $843,000 after acquiring an additional 140 shares in the last quarter. Blue Trust Inc. raised its stake in shares of McKesson by 0.5% during the 1st quarter. Blue Trust Inc. now owns 5,575 shares of the company's stock worth $3,752,000 after acquiring an additional 27 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of McKesson by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 23,141 shares of the company's stock worth $15,572,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

McKesson Stock Down 1.1%

Shares of NYSE:MCK traded down $8.03 during midday trading on Friday, reaching $720.88. The company's stock had a trading volume of 1,367,026 shares, compared to its average volume of 923,055. The firm has a market capitalization of $90.19 billion, a PE ratio of 27.91, a P/E/G ratio of 1.44 and a beta of 0.49. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $733.10. The stock has a fifty day moving average of $708.42 and a 200 day moving average of $648.09.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.18 earnings per share. Sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio is presently 10.99%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MCK shares. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th. Morgan Stanley upped their price target on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three investment 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $694.38.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the sale, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas L. Rodgers sold 510 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $366,134.10. Following the transaction, the executive vice president now directly owns 5,435 shares in the company, valued at approximately $3,901,840.85. The trade was a 8.58% decrease in their ownership of the stock. 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. 0.11% of the stock is owned by company insiders.

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.