McKesson Corporation (NYSE:MCK) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC cut its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 7.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,507 shares of the company's stock after selling 5,716 shares during the quarter. McKesson comprises 0.8% of Segall Bryant & Hamill LLC's holdings, making the stock its 12th largest position. Segall Bryant & Hamill LLC owned 0.06% of McKesson worth $50,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of McKesson by 29.0% in the first quarter. Victory Capital Management Inc. now owns 342,352 shares of the company's stock worth $230,399,000 after purchasing an additional 76,864 shares during the last quarter. Bridgewater Advisors Inc. purchased a new position in shares of McKesson in the first quarter worth about $399,000. Concord Asset Management LLC VA purchased a new position in shares of McKesson in the first quarter worth about $3,115,000. Larson Financial Group LLC raised its stake in shares of McKesson by 23.1% in the first quarter. Larson Financial Group LLC now owns 1,517 shares of the company's stock worth $1,021,000 after purchasing an additional 285 shares during the last quarter. Finally, Wealthfront Advisers LLC raised its stake in shares of McKesson by 38.4% in the first quarter. Wealthfront Advisers LLC now owns 25,470 shares of the company's stock worth $17,141,000 after purchasing an additional 7,073 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Down 0.1%

MCK traded down $0.44 during trading on Friday, hitting $709.84. The company's stock had a trading volume of 496,474 shares, compared to its average volume of 919,808. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The business's fifty day simple moving average is $716.44 and its 200 day simple moving average is $666.89. The firm has a market capitalization of $88.81 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.42 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period last year, the company earned $6.18 earnings per share. McKesson's quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on MCK. UBS Group raised 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. Morgan Stanley restated an "overweight" rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a research note on Wednesday. Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Evercore ISI raised their target price on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $710.17.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the sale, the chief executive officer directly owned 27,872 shares in the company, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,488 shares of company stock valued at $37,242,862 in the last 90 days. Corporate insiders own 0.08% of the company's stock.

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.