Wolf Group Capital Advisors Invests $1.65 Million in McKesson Corporation (NYSE:MCK)

Wolf Group Capital Advisors purchased a new stake in McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,453 shares of the company's stock, valued at approximately $1,651,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital A Wealth Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at $26,000. Millstone Evans Group LLC acquired a new position in McKesson during the 4th quarter valued at about $28,000. Atala Financial Inc bought a new position in shares of McKesson in the 4th quarter valued at about $34,000. Graney & King LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $38,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MCK shares. Mizuho raised their price objective 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. UBS Group raised their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley upped their price objective on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Finally, Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $694.38.

McKesson Stock Performance

MCK stock traded up $4.90 during mid-day trading on Wednesday, hitting $729.28. 734,993 shares of the company were exchanged, compared to its average volume of 918,861. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $733.57. The firm's 50 day simple moving average is $705.65 and its 200 day simple moving average is $645.81. The firm has a market cap of $91.24 billion, a P/E ratio of 28.23, a P/E/G ratio of 1.43 and a beta of 0.49.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is 10.99%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 1,248 shares of the company'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 sale, the executive vice president now owns 2,621 shares in the company, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock valued at $23,526,451 in the last quarter. 0.11% 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.