Private Wealth Partners LLC Sells 775 Shares of McKesson Corporation (NYSE:MCK)

Private Wealth Partners LLC lessened its position in McKesson Corporation (NYSE:MCK - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,257 shares of the company's stock after selling 775 shares during the quarter. McKesson makes up about 2.0% of Private Wealth Partners LLC's investment portfolio, making the stock its 15th largest holding. Private Wealth Partners LLC's holdings in McKesson were worth $23,728,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Norges Bank purchased a new position in McKesson during the 4th quarter valued at about $1,200,361,000. Farallon Capital Management LLC bought a new stake in McKesson during the fourth quarter worth about $348,044,000. Marshall Wace LLP grew 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 purchased a new stake in McKesson in the fourth quarter worth about $182,861,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of MCK opened at $729.28 on Friday. The firm has a market cap of $91.24 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 1.46 and a beta of 0.49. The company has a 50 day simple moving average of $707.81 and a two-hundred day simple moving average of $647.13. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $732.99.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.18 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share 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 issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's payout ratio is presently 10.99%.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The shares were 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 directly owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $2,010,148. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley increased their target price on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Bank of America raised their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and an average target price of $694.38.

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.

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