U.S. Capital Wealth Advisors LLC Reduces Holdings in McKesson Corporation (NYSE:MCK)

U.S. Capital Wealth Advisors LLC reduced its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 31.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,918 shares of the company's stock after selling 869 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in McKesson were worth $1,290,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after purchasing an additional 2,389,992 shares in the last quarter. Norges Bank bought a new position in shares of McKesson in the 4th quarter worth $1,200,361,000. Farallon Capital Management LLC bought a new position in shares of McKesson in the 4th quarter worth $348,044,000. Marshall Wace LLP increased its holdings in shares of McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after buying an additional 358,322 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new position in shares of McKesson in the 4th quarter worth $182,861,000. 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 the firm's stock in a transaction dated 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,117 shares of company stock worth $23,526,451. 0.08% of the stock is currently owned by insiders.

McKesson Price Performance

McKesson stock traded down $6.05 during trading hours on Friday, reaching $708.49. The stock had a trading volume of 530,634 shares, compared to its average volume of 925,911. The stock has a market cap of $88.64 billion, a PE ratio of 27.43, a PEG ratio of 1.43 and a beta of 0.48. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The company has a fifty day simple moving average of $715.67 and a 200-day simple moving average of $662.14.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (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 company's revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $6.18 EPS. Research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. UBS Group increased their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley increased their target price on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $706.83.

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.