WCM Investment Management LLC Increases Holdings in McKesson Corporation (NYSE:MCK)

WCM Investment Management LLC increased its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,082,640 shares of the company's stock after acquiring an additional 603 shares during the quarter. McKesson makes up about 1.9% of WCM Investment Management LLC's portfolio, making the stock its 22nd biggest holding. WCM Investment Management LLC owned approximately 0.86% of McKesson worth $723,269,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MCK. Capital A Wealth Management LLC purchased a new position in McKesson during the fourth quarter worth about $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $28,000. Atala Financial Inc acquired a new stake in shares of McKesson during the 4th quarter worth approximately $34,000. Graney & King LLC purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $38,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $67,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the transaction, the executive vice president directly owned 2,621 shares of the company's stock, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer directly owned 1,972 shares in the company, 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 ninety days, insiders have sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several analyst reports. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. UBS Group raised their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $696.42.

McKesson Trading Down 3.0%

MCK traded down $22.06 during trading hours on Wednesday, hitting $705.68. 731,881 shares of the company's stock were exchanged, compared to its average volume of 923,087. The firm has a market cap of $88.29 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 1.46 and a beta of 0.48. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $736.96. The firm has a 50 day moving average of $712.79 and a 200 day moving average of $654.69.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share 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 negative return on equity of 201.12% and a net margin of 0.92%. The company's revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.18 earnings per share. As a group, research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given 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 is currently 10.99%.

McKesson 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.