839 Shares in McKesson Co. (NYSE:MCK) Acquired by Sweeney & Michel LLC

Sweeney & Michel LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 839 shares of the company's stock, valued at approximately $548,000.

A number of other institutional investors also recently bought and sold shares of the stock. Capital A Wealth Management LLC bought a new stake in shares of McKesson during the fourth quarter worth $26,000. Millstone Evans Group LLC purchased a new position in shares of McKesson during the fourth quarter valued at $28,000. Crews Bank & Trust purchased a new position in shares of McKesson during the fourth quarter valued at $33,000. Atala Financial Inc purchased a new position in shares of McKesson during the fourth quarter valued at $34,000. Finally, Graney & King LLC purchased a new position in shares of McKesson during the fourth quarter valued at $38,000. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on MCK. Wells Fargo & Company raised their price target on McKesson from $691.00 to $766.00 and gave the company an "equal weight" rating in a research note on Tuesday. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Three 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $692.46.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Britt J. Vitalone sold 1,878 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $1,348,234.98. Following the completion of the transaction, the chief financial officer now directly owns 14,028 shares of the company's stock, valued at $10,070,841.48. The trade was a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,747 shares of company stock valued at $9,852,587 over the last quarter. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Up 0.2%

Shares of MCK stock traded up $1.54 during trading hours on Thursday, reaching $711.00. 206,255 shares of the company's stock were exchanged, compared to its average volume of 912,976. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00. The stock has a market cap of $88.95 billion, a PE ratio of 32.55, a PEG ratio of 1.29 and a beta of 0.53. The stock's fifty day moving average price is $698.17 and its two-hundred day moving average price is $639.78.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 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.