Y Intercept Hong Kong Ltd Sells 3,453 Shares of McKesson Corporation (NYSE:MCK)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 61.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,142 shares of the company's stock after selling 3,453 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in McKesson were worth $1,442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in shares of McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after buying an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after acquiring an additional 111 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in McKesson by 18.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after buying an additional 3,659 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of McKesson by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after acquiring an additional 7,556 shares during the period. Finally, CWA Asset Management Group LLC lifted its stake in McKesson by 6.3% during the first quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock worth $659,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MCK. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Evercore ISI lifted their target price on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Bank of America upped their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $710.17.

McKesson Stock Up 0.2%

Shares of MCK traded up $1.61 during midday trading on Friday, hitting $711.80. The company had a trading volume of 431,229 shares, compared to its average volume of 586,523. The stock has a market cap of $89.05 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.44 and a beta of 0.48. The company's 50 day moving average price is $717.86 and its 200 day moving average price is $672.13. McKesson Corporation has a 52 week low of $464.42 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the company posted $6.18 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. Equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors 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 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 10.99%.

Insider Activity at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of McKesson 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 $4,544,812.80. Following the transaction, the chief financial officer owned 14,760 shares in the company, valued at approximately $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on 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 owned 1,972 shares in the company, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,488 shares of company stock valued at $37,242,862. 0.08% of the stock is owned by corporate 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.