Simon Quick Advisors LLC Increases Position in McKesson Co. (NYSE:MCK)

Simon Quick Advisors LLC increased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 55.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,034 shares of the company's stock after purchasing an additional 368 shares during the period. Simon Quick Advisors LLC's holdings in McKesson were worth $696,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCK. Parallel Advisors LLC raised its stake in McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after acquiring an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake 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 acquiring an additional 17 shares in the last quarter. Eagle Rock Investment Company LLC raised its stake 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 acquiring an additional 17 shares in the last quarter. Hemington Wealth Management increased its stake in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after purchasing an additional 18 shares during the period. Finally, First Western Trust Bank increased its stake in McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after purchasing an additional 18 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

MCK stock traded down $3.65 during trading on Friday, reaching $727.15. 518,101 shares of the company were exchanged, compared to its average volume of 920,809. The company has a market cap of $90.98 billion, a P/E ratio of 33.29, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $732.99. The stock's 50 day moving average price is $703.28 and its 200 day moving average price is $644.50.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.18 earnings per share. As a group, equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on MCK shares. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Bank of America lifted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Finally, Morgan Stanley lifted their price objective on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus target price of $694.38.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $2,058,912.38. Following the transaction, the executive vice president now owns 2,544 shares of the company's stock, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,117 shares of company stock worth $23,526,451. Insiders own 0.11% of the company's stock.

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.