Sowell Financial Services LLC Takes Position in McKesson Corporation (NYSE:MCK)

Sowell Financial Services LLC acquired a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,340 shares of the company's stock, valued at approximately $2,248,000.

Other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in McKesson during the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new position in McKesson during the fourth quarter valued at approximately $28,000. Atala Financial Inc acquired a new position in McKesson during the fourth quarter valued at approximately $34,000. Graney & King LLC acquired a new position in McKesson during the fourth quarter valued at approximately $38,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. UBS Group upped their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and an average price target of $694.38.

Insiders Place Their Bets

In other news, 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 value of $394,494.93. Following the transaction, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas L. Rodgers sold 510 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $366,134.10. Following the completion of the transaction, the executive vice president now directly owns 5,435 shares in the company, valued at $3,901,840.85. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Up 0.7%

Shares of MCK stock traded up $4.90 during trading on Thursday, reaching $729.28. The company's stock had a trading volume of 734,993 shares, compared to its average volume of 920,688. The business has a fifty day moving average price of $707.81 and a 200-day moving average price of $647.13. The company has a market cap of $91.24 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.46 and a beta of 0.49. McKesson Corporation has a one year low of $464.42 and a one year high of $732.99.

McKesson (NYSE:MCK - Get Free Report) last announced 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 business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.18 earnings per share. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. 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 is presently 10.99%.

McKesson Company 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.