Summit Trail Advisors LLC Buys 603 Shares of McKesson Corporation (NYSE:MCK)

Summit Trail Advisors LLC raised its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,399 shares of the company's stock after acquiring an additional 603 shares during the period. Summit Trail Advisors LLC's holdings in McKesson were worth $1,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MCK. Capital A Wealth Management LLC purchased a new position in shares of McKesson in the 4th quarter worth about $26,000. Millstone Evans Group LLC purchased a new position in shares of McKesson in the 4th quarter worth about $28,000. Atala Financial Inc purchased a new position in shares of McKesson in the 4th quarter worth about $34,000. Graney & King LLC purchased a new position in shares of McKesson in the 4th quarter worth about $38,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of McKesson in the 4th quarter worth about $67,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction that occurred 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 sale, the chief executive officer directly owned 51,243 shares in the company, valued at $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock valued at $23,526,451 over the last ninety days. Insiders own 0.08% of the company's stock.

McKesson Trading Down 1.7%

NYSE MCK traded down $12.58 on Wednesday, hitting $715.16. The company's stock had a trading volume of 230,437 shares, compared to its average volume of 921,170. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $736.96. The company's 50-day simple moving average is $712.79 and its 200 day simple moving average is $654.69. The firm has a market cap of $89.47 billion, a P/E ratio of 27.65, a PEG ratio of 1.46 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share 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 in the previous year, the company posted $6.18 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. On average, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson's dividend payout ratio is presently 10.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Morgan Stanley lifted their price target on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and an average price target of $696.42.

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.