Valeo Financial Advisors LLC Purchases 594 Shares of McKesson Corporation (NYSE:MCK)

Valeo Financial Advisors LLC increased its position in McKesson Corporation (NYSE:MCK - Free Report) by 71.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,426 shares of the company's stock after purchasing an additional 594 shares during the quarter. Valeo Financial Advisors LLC's holdings in McKesson were worth $959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Capital A Wealth Management LLC acquired a new position in shares of McKesson during the 4th quarter worth about $26,000. Millstone Evans Group LLC acquired a new position in shares of McKesson during the 4th quarter worth about $28,000. Atala Financial Inc acquired a new position in shares of McKesson during the 4th quarter worth about $34,000. Graney & King LLC acquired a new position in shares of McKesson in the 4th quarter valued at approximately $38,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of McKesson in the 4th quarter valued at approximately $67,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE MCK traded down $6.72 on Friday, reaching $707.82. The stock had a trading volume of 180,003 shares, compared to its average volume of 925,619. 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 $88.55 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. The firm has a fifty day moving average of $715.65 and a two-hundred day moving average of $661.24.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data 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. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same period last year, the company earned $6.18 earnings per share. The firm's revenue was up 18.9% compared to the same quarter last year. Research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 19,370 shares of the company's stock in a transaction on 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 owned 51,243 shares in the company, valued at $36,173,970.99. This represents a 27.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Britt J. Vitalone sold 1,878 shares of the business's stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 14,028 shares in the company, valued at approximately $10,070,841.48. This represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock valued at $23,526,451 over the last ninety days. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

MCK has been the subject of several research analyst reports. Bank of America boosted their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Morgan Stanley boosted their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Wells Fargo & Company set a $766.00 target price on McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Finally, Evercore ISI boosted their target price on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $706.83.

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.