Yukon Wealth Management Inc. Takes $717,000 Position in McKesson Corporation (NYSE:MCK)

Yukon Wealth Management Inc. acquired a new position in McKesson Corporation (NYSE:MCK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,065 shares of the company's stock, valued at approximately $717,000.

Several other large investors have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its stake in McKesson by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after acquiring an additional 222,496 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after purchasing an additional 10,015 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. GAMMA Investing LLC lifted its position in McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares during the period. Finally, Norges Bank purchased a new stake in McKesson in the 4th quarter worth approximately $1,200,361,000. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several analyst reports. Mizuho boosted their target price 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. Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Morgan Stanley boosted their price objective on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company set a $766.00 target price on McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $696.42.

Insider Buying and Selling

In related news, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president directly owned 2,544 shares in the company, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the chief accounting officer directly owned 1,972 shares in the company, valued at approximately $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. Insiders have sold 33,117 shares of company stock worth $23,526,451 over the last 90 days. Company insiders own 0.11% of the company's stock.

McKesson Price Performance

MCK stock traded up $11.56 during midday trading on Thursday, hitting $717.01. The stock had a trading volume of 199,969 shares, compared to its average volume of 921,748. The company's 50-day moving average price is $713.06 and its 200 day moving average price is $655.04. The firm has a market cap of $89.71 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $736.96.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same period in the prior year, the firm posted $6.18 earnings per share. The business's quarterly revenue was up 18.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

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.