Sherbrooke Park Advisers LLC Sells 406 Shares of McKesson Co. (NYSE:MCK)

Sherbrooke Park Advisers LLC reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,195 shares of the company's stock after selling 406 shares during the period. Sherbrooke Park Advisers LLC's holdings in McKesson were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Frank Rimerman Advisors LLC increased its holdings in shares of McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after buying an additional 17 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after buying an additional 18 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after buying an additional 18 shares in the last quarter. First Western Trust Bank increased its holdings in shares of McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after buying an additional 18 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its holdings in shares of McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after buying an additional 20 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

NYSE:MCK traded down $7.33 on Tuesday, hitting $719.07. The stock had a trading volume of 809,495 shares, compared to its average volume of 917,420. The stock has a market cap of $89.96 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $730.42. The firm's fifty day simple moving average is $684.84 and its two-hundred day simple moving average is $629.90.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly 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. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter last year, the business posted $6.18 EPS. McKesson's quarterly revenue was up 18.9% compared to the same quarter last year. Equities research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This trade represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, UBS Group upped 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. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

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.