Whipplewood Advisors LLC Buys 370 Shares of McKesson Co. (NYSE:MCK)

Whipplewood Advisors LLC grew its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 84.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 807 shares of the company's stock after purchasing an additional 370 shares during the quarter. Whipplewood Advisors LLC's holdings in McKesson were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MCK. Parallel Advisors LLC boosted its stake in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after acquiring an additional 16 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after purchasing an additional 17 shares during the period. Hemington Wealth Management lifted its position in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after purchasing an additional 18 shares in the last quarter. First Western Trust Bank grew its holdings in McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after purchasing an additional 18 shares during the period. Finally, Moody National Bank Trust Division increased its position in McKesson by 0.9% in the first quarter. Moody National Bank Trust Division now owns 2,003 shares of the company's stock worth $1,348,000 after buying an additional 18 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. UBS Group raised 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. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Mizuho raised their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Finally, Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $692.46.

McKesson Trading Up 0.2%

MCK traded up $1.20 during trading hours on Thursday, hitting $710.66. The company's stock had a trading volume of 608,901 shares, compared to its average volume of 914,543. The stock has a market cap of $88.91 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 1.29 and a beta of 0.53. The business's 50-day moving average price is $698.17 and its 200-day moving average price is $639.78. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same period in the prior year, the company earned $6.18 EPS. The business's revenue was up 18.9% compared to the same quarter last year. On average, analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson's dividend payout ratio is presently 10.99%.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the transaction, the executive vice president now owns 2,544 shares in the company, valued at $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 1,248 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president now directly owns 2,621 shares in the company, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,747 shares of company stock valued at $9,852,587 over the last three months. 0.11% of the stock is owned by company insiders.

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.