McKesson Co. (NYSE:MCK) Shares Sold by Unigestion Holding SA

Unigestion Holding SA trimmed its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 52.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,000 shares of the company's stock after selling 7,773 shares during the period. Unigestion Holding SA's holdings in McKesson were worth $4,711,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in shares of McKesson in the 4th quarter valued at $26,000. Millstone Evans Group LLC acquired a new stake in McKesson in the 4th quarter valued at $28,000. Atala Financial Inc purchased a new position in McKesson in the fourth quarter valued at about $34,000. Graney & King LLC acquired a new position in shares of McKesson during the fourth quarter worth about $38,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson in the fourth quarter worth about $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction on 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 directly owns 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents 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 this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,747 shares of company stock worth $9,852,587. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of McKesson stock traded up $1.20 on Thursday, reaching $710.66. 608,901 shares of the company were exchanged, compared to its average volume of 914,543. The firm has a market cap of $88.91 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The company's 50-day moving average is $698.17 and its two-hundred day moving average is $639.78.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate 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 net margin of 0.82% and a negative return on equity of 181.26%. McKesson's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.18 EPS. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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 paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is currently 10.99%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wells Fargo & Company upped their price target on shares of McKesson from $691.00 to $766.00 and gave the company an "equal weight" rating in a report on Tuesday. Morgan Stanley raised their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Finally, UBS Group increased their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average price target 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.