McKesson Co. (NYSE:MCK) Shares Sold by Cairn Investment Group Inc.

Cairn Investment Group Inc. trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,835 shares of the company’s stock after selling 60 shares during the period. McKesson accounts for about 1.2% of Cairn Investment Group Inc.’s holdings, making the stock its 28th biggest holding. Cairn Investment Group Inc.’s holdings in McKesson were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in MCK. Douglass Winthrop Advisors LLC boosted its holdings in McKesson by 1.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after acquiring an additional 21 shares during the period. Addison Advisors LLC grew its position in shares of McKesson by 7.9% during the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after acquiring an additional 22 shares during the last quarter. Evergreen Wealth Solutions LLC lifted its position in McKesson by 1.2% in the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock valued at $894,000 after purchasing an additional 22 shares during the last quarter. RMR Wealth Builders boosted its stake in McKesson by 5.2% during the 1st quarter. RMR Wealth Builders now owns 464 shares of the company’s stock valued at $249,000 after purchasing an additional 23 shares during the period. Finally, Keystone Financial Services raised its holdings in shares of McKesson by 2.1% during the fourth quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after buying an additional 24 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 704 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $392,895.36. Following the completion of the sale, the executive vice president now directly owns 2,215 shares in the company, valued at $1,236,169.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 704 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $392,895.36. Following the completion of the sale, the executive vice president now owns 2,215 shares in the company, valued at $1,236,169.35. The disclosure for this sale can be found here. Insiders have sold a total of 25,814 shares of company stock worth $14,511,649 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research reports. Argus upped their target price on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday. Citigroup lifted their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. UBS Group lifted their price target on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Evercore ISI raised their price target on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $590.47.

McKesson Stock Down 2.4 %

McKesson stock traded down $14.66 during mid-day trading on Thursday, hitting $584.90. 311,194 shares of the company’s stock were exchanged, compared to its average volume of 703,142. The firm has a market capitalization of $76.00 billion, a P/E ratio of 26.56, a PEG ratio of 1.41 and a beta of 0.47. The company’s 50 day simple moving average is $561.74 and its 200-day simple moving average is $522.73. McKesson Co. has a fifty-two week low of $395.30 and a fifty-two week high of $612.17.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $7.19 EPS. Research analysts expect that McKesson Co. will post 31.54 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio is currently 11.08%.

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.