Schechter Investment Advisors LLC Has $3.45 Million Stake in McKesson Corporation (NYSE:MCK)

Schechter Investment Advisors LLC lessened its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 7.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,124 shares of the company's stock after selling 405 shares during the quarter. Schechter Investment Advisors LLC's holdings in McKesson were worth $3,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $26,000. Millstone Evans Group LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $28,000. Atala Financial Inc acquired a new stake in shares of McKesson in the 4th quarter valued at $34,000. Graney & King LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $38,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of McKesson in the 4th quarter valued at $67,000. Institutional investors own 85.07% of the company's stock.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 2,544 shares in the company, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 1,878 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 value of $1,348,234.98. Following the completion of the transaction, the chief financial officer owned 14,028 shares of the company's stock, valued at $10,070,841.48. The trade was a 11.81% decrease in their ownership of the stock. 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company set a $766.00 target price on McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Bank of America lifted their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $706.83.

McKesson Price Performance

NYSE MCK traded up $3.38 during trading on Monday, reaching $712.97. 79,664 shares of the company's stock were exchanged, compared to its average volume of 923,894. The business has a 50 day moving average price of $715.67 and a 200-day moving average price of $663.30. The stock has a market capitalization of $89.20 billion, a P/E ratio of 27.61, a PEG ratio of 1.42 and a beta of 0.48. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last released 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. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the firm posted $6.18 EPS. On average, analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's payout ratio is presently 10.99%.

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.