Wealthfront Advisers LLC Has $17.14 Million Stock Position in McKesson Corporation (NYSE:MCK)

Wealthfront Advisers LLC lifted its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 38.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,470 shares of the company's stock after purchasing an additional 7,073 shares during the quarter. Wealthfront Advisers LLC's holdings in McKesson were worth $17,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in McKesson in the 4th quarter valued at $26,000. Millstone Evans Group LLC bought a new stake in McKesson in the 4th quarter valued at $28,000. Graney & King LLC bought a new stake in McKesson in the 4th quarter valued at $38,000. CoreFirst Bank & Trust bought a new stake in McKesson in the 4th quarter valued at $67,000. Finally, Cornerstone Planning Group LLC lifted its position in McKesson by 1,840.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock valued at $67,000 after acquiring an additional 92 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the transaction, the executive vice president directly owned 2,544 shares in the company, valued at $1,811,785.92. The trade was a 53.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer owned 1,972 shares in the company, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,488 shares of company stock worth $37,242,862 over the last ninety days. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a research report on Wednesday. UBS Group boosted their price objective 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. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, 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 note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $710.17.

McKesson Trading Up 0.1%

Shares of McKesson stock traded up $0.49 during trading on Friday, hitting $710.77. 285,574 shares of the stock were exchanged, compared to its average volume of 918,504. The stock has a market capitalization of $88.92 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.48. The company has a fifty day moving average price of $716.12 and a 200-day moving average price of $665.92. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. The company 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%. McKesson's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business earned $6.18 EPS. Equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders 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 dividend yield of 0.40%. McKesson's dividend payout ratio is presently 10.99%.

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.