PKO Investment Management Joint Stock Co Takes $1.01 Million Position in McKesson Corporation (NYSE:MCK)

PKO Investment Management Joint Stock Co bought a new position in McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,500 shares of the company's stock, valued at approximately $1,009,000.

Several other hedge funds also recently bought and sold shares of MCK. GAMMA Investing LLC raised its holdings in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after purchasing an additional 2,389,992 shares during the period. Norges Bank acquired a new stake in McKesson in the fourth quarter worth $1,200,361,000. Farallon Capital Management LLC acquired a new stake in McKesson in the fourth quarter worth $348,044,000. Marshall Wace LLP raised its holdings in McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after purchasing an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new stake in McKesson in the fourth quarter worth $182,861,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the topic of several analyst reports. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Morgan Stanley raised their price objective on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Bank of America raised their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Mizuho raised their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $694.38.

McKesson Stock Performance

McKesson stock traded up $4.90 during mid-day trading on Thursday, reaching $729.28. The company's stock had a trading volume of 734,993 shares, compared to its average volume of 920,688. The company has a market capitalization of $91.24 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.46 and a beta of 0.49. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $732.99. The business's 50 day simple moving average is $707.81 and its 200 day simple moving average is $647.13.

McKesson (NYSE:MCK - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. McKesson's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.18 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 341 shares of McKesson stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the sale, the executive vice president now owns 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

About McKesson

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.