Wolff Wiese Magana LLC Raises Holdings in McKesson Corporation (NYSE:MCK)

Wolff Wiese Magana LLC increased its position in McKesson Corporation (NYSE:MCK - Free Report) by 5,803.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,535 shares of the company's stock after buying an additional 1,509 shares during the quarter. Wolff Wiese Magana LLC's holdings in McKesson were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MCK. Brighton Jones LLC raised its position in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after buying an additional 798 shares during the period. Kestra Investment Management LLC purchased a new position in shares of McKesson in the 4th quarter worth $55,000. Forte Capital LLC ADV purchased a new position in shares of McKesson in the 4th quarter worth $233,000. Compass Capital Corp MA ADV purchased a new position in shares of McKesson in the 4th quarter worth $401,000. Finally, Transcend Capital Advisors LLC increased its holdings in McKesson by 3.4% in the 4th quarter. Transcend Capital Advisors LLC now owns 969 shares of the company's stock valued at $552,000 after purchasing an additional 32 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of NYSE MCK opened at $720.88 on Friday. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $733.10. The firm has a market cap of $90.19 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.44 and a beta of 0.49. The stock's 50-day simple moving average is $708.42 and its 200-day simple moving average is $648.09.

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, 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 for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company earned $6.18 earnings per share. As a group, research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid 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 0.39%. McKesson's dividend payout ratio (DPR) is 10.99%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction dated Friday, June 6th. The stock was 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 directly owns 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.11% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Mizuho increased 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. Morgan Stanley increased their price target on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Finally, Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $694.38.

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.

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