Richard Bernstein Advisors LLC Has $5.24 Million Holdings in McKesson Corporation (NYSE:MCK)

Richard Bernstein Advisors LLC trimmed its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 5.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,786 shares of the company's stock after selling 482 shares during the period. Richard Bernstein Advisors LLC's holdings in McKesson were worth $5,240,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCK. GAMMA Investing LLC increased its position in McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares in the last quarter. Norges Bank acquired a new stake in McKesson in the fourth quarter worth about $1,200,361,000. Farallon Capital Management LLC bought a new stake in McKesson during the 4th quarter worth about $348,044,000. Marshall Wace LLP lifted its position in McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after purchasing an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $182,861,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho increased their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Morgan Stanley raised 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. Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Wells Fargo & Company set a $766.00 price objective 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, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $696.42.

McKesson Price Performance

MCK stock opened at $719.30 on Monday. The stock has a market capitalization of $89.99 billion, a P/E ratio of 27.85, a P/E/G ratio of 1.44 and a beta of 0.48. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $736.96. The business has a 50-day moving average of $714.17 and a 200-day moving average of $658.30.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share 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 company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period last year, the business earned $6.18 EPS. The business's quarterly revenue was up 18.9% on a year-over-year basis. Equities analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

Insider Activity

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president owned 2,544 shares in the company, valued at $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Britt J. Vitalone sold 1,878 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $1,348,234.98. Following the transaction, the chief financial officer directly owned 14,028 shares of the company's stock, valued at approximately $10,070,841.48. The trade was a 11.81% decrease in their position. 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. Corporate insiders own 0.08% of the company's stock.

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.

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