McKesson Co. (NYSE:MCK) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 303.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,369 shares of the company's stock after buying an additional 4,039 shares during the period. SG Americas Securities LLC's holdings in McKesson were worth $3,613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after purchasing an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in 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 purchasing an additional 17 shares in the last quarter. Eagle Rock Investment Company LLC increased its position in McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock worth $3,229,000 after purchasing an additional 17 shares in the last quarter. First Western Trust Bank increased its position in McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after purchasing an additional 18 shares in the last quarter. Finally, Moody National Bank Trust Division increased its position in McKesson by 0.9% during the 1st quarter. Moody National Bank Trust Division now owns 2,003 shares of the company's stock worth $1,348,000 after purchasing an additional 18 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCK. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Morgan Stanley increased their price objective on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America increased their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. UBS Group increased their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $694.38.

Insider Activity

In other news, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer now directly owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. 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 McKesson stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,117 shares of company stock valued at $23,526,451. Company insiders own 0.11% of the company's stock.

McKesson Stock Down 0.5%

NYSE MCK traded down $3.65 during trading hours on Friday, hitting $727.15. The company had a trading volume of 518,101 shares, compared to its average volume of 920,038. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $732.99. The business has a fifty day simple moving average of $703.28 and a 200-day simple moving average of $644.37. The firm has a market cap of $90.98 billion, a P/E ratio of 33.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its 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 negative return on equity of 181.26% and a net margin of 0.82%. The firm 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. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 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.