Sentry Investment Management LLC Invests $287,000 in McKesson Co. (NYSE:MCK)

Sentry Investment Management LLC bought a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 433 shares of the company's stock, valued at approximately $287,000.

A number of other large investors have also made changes to their positions in the stock. Parallel Advisors LLC raised its stake in McKesson by 0.6% during the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after purchasing an additional 16 shares during the period. Frank Rimerman Advisors LLC increased its holdings in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after buying an additional 17 shares during the last quarter. Hemington Wealth Management raised its position in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after buying an additional 18 shares during the period. First Western Trust Bank grew its position in McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after acquiring an additional 18 shares during the period. Finally, Moody National Bank Trust Division raised its position in McKesson by 0.9% in the first quarter. Moody National Bank Trust Division now owns 2,003 shares of the company's stock valued at $1,348,000 after purchasing an additional 18 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the sale, the chief financial officer now directly owns 14,760 shares in the company, valued at approximately $10,587,348. The trade was a 30.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,747 shares of company stock valued at $9,852,587. 0.11% of the stock is owned by company insiders.

McKesson Stock Up 0.2%

MCK traded up $1.20 during trading on Thursday, hitting $710.66. 614,234 shares of the stock were exchanged, compared to its average volume of 914,545. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The stock has a fifty day moving average price of $698.17 and a two-hundred day moving average price of $639.78. The firm has a market capitalization of $88.91 billion, a P/E ratio of 32.54, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the company posted $6.18 EPS. Analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson's dividend payout ratio (DPR) is currently 10.99%.

Analysts Set New Price Targets

Several research analysts have weighed in on MCK shares. Wells Fargo & Company increased their target price on shares of McKesson from $691.00 to $766.00 and gave the stock an "equal weight" rating in a research note on Tuesday. UBS Group raised their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Evercore ISI lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average price target of $692.46.

McKesson 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.