Swisher Financial Concepts Inc. Acquires New Stake in McKesson Co. (NYSE:MCK)

Swisher Financial Concepts Inc. bought a new stake in McKesson Co. (NYSE:MCK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 352 shares of the company's stock, valued at approximately $237,000.

A number of other institutional investors also recently bought and sold shares of the company. Brentview Investment Management LLC bought a new position in shares of McKesson in the fourth quarter worth about $3,018,000. Ingalls & Snyder LLC raised its stake in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after buying an additional 1,047 shares during the period. Chicago Partners Investment Group LLC raised its stake in McKesson by 85.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock valued at $745,000 after purchasing an additional 580 shares during the period. E. Ohman J or Asset Management AB raised its stake in McKesson by 12.8% during the 4th quarter. E. Ohman J or Asset Management AB now owns 5,800 shares of the company's stock valued at $3,305,000 after purchasing an additional 660 shares during the period. Finally, Portfolio Design Labs LLC bought a new stake in McKesson during the 4th quarter valued at approximately $274,000. Institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson 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 owns 2,544 shares in the company, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Britt J. Vitalone sold 1,878 shares of the business's stock in a transaction 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 transaction, the chief financial officer now owns 14,028 shares of the company's stock, valued at approximately $10,070,841.48. The trade was a 11.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,747 shares of company stock worth $9,852,587. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Down 0.7%

NYSE MCK traded down $4.94 during trading on Wednesday, hitting $709.94. 644,590 shares of the stock traded hands, compared to its average volume of 914,044. The company has a market capitalization of $88.82 billion, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The firm has a 50-day simple moving average of $697.33 and a 200-day simple moving average of $639.30. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.18 EPS. As a group, research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.71 dividend. 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%.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on McKesson from $691.00 to $766.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $692.46.

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.