Valeo Financial Advisors LLC Increases Stock Position in McKesson Corporation (NYSE:MCK)

Valeo Financial Advisors LLC grew its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 71.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,426 shares of the company's stock after purchasing an additional 594 shares during the period. Valeo Financial Advisors LLC's holdings in McKesson were worth $959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MCK. GAMMA Investing LLC grew its position in shares of McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares in the last quarter. Norges Bank purchased a new stake in McKesson during the 4th quarter worth about $1,200,361,000. Farallon Capital Management LLC bought a new position in McKesson in the 4th quarter worth about $348,044,000. Marshall Wace LLP grew its holdings in McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after buying an additional 358,322 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in McKesson during the 4th quarter valued at about $182,861,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

NYSE MCK traded down $6.05 during trading hours on Friday, reaching $708.49. 530,634 shares of the stock traded hands, compared to its average volume of 927,242. The stock has a 50 day simple moving average of $715.67 and a two-hundred day simple moving average of $662.71. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The company has a market cap of $88.64 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. McKesson's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the firm posted $6.18 EPS. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MCK shares. Evercore ISI raised their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research report on Wednesday. Morgan Stanley increased their target price on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Bank of America increased their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $706.83.

Insider Buying and Selling

In other news, CFO Britt J. Vitalone sold 1,878 shares of McKesson stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $1,348,234.98. Following the transaction, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total value 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 trade represents a 27.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock worth $23,526,451 in the last ninety days. 0.08% of the stock is currently owned by insiders.

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.