World Investment Advisors Boosts Stock Position in McKesson Corporation (NYSE:MCK)

World Investment Advisors raised its position in McKesson Corporation (NYSE:MCK - Free Report) by 23.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,857 shares of the company's stock after acquiring an additional 1,095 shares during the quarter. World Investment Advisors' holdings in McKesson were worth $3,942,000 at the end of the most recent quarter.

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

McKesson Price Performance

Shares of McKesson stock traded up $16.11 during trading on Monday, hitting $735.41. 999,234 shares of the company's stock traded hands, compared to its average volume of 927,042. The stock has a market capitalization of $92.01 billion, a P/E ratio of 28.47, a PEG ratio of 1.44 and a beta of 0.48. The business has a 50-day simple moving average of $714.17 and a 200-day simple moving average of $658.30. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $736.96.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) 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 analysts' expectations 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 quarter last year, the company posted $6.18 earnings per share. On average, equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insiders Place Their Bets

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the firm'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 transaction of $4,544,812.80. Following the sale, the chief financial officer owned 14,760 shares in the company, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer directly owned 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,117 shares of company stock valued at $23,526,451. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Saturday. UBS Group lifted their price target 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. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, McKesson has a consensus rating of "Moderate Buy" and an average target price of $696.42.

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.