Davis R M Inc. Lowers Position in McKesson Co. (NYSE:MCK)

Davis R M Inc. cut its stake in McKesson Co. (NYSE:MCK) by 7.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 865 shares of the company’s stock after selling 71 shares during the quarter. Davis R M Inc.’s holdings in McKesson were worth $464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MCK. Dynamic Advisor Solutions LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $243,000. BKM Wealth Management LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $31,000. Cedar Brook Financial Partners LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $227,000. SG Americas Securities LLC increased its stake in shares of McKesson by 19.2% during the fourth quarter. SG Americas Securities LLC now owns 9,462 shares of the company’s stock valued at $4,381,000 after purchasing an additional 1,525 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of McKesson by 16.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 746 shares of the company’s stock valued at $345,000 after purchasing an additional 103 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MCK shares. UBS Group raised their target price on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Morgan Stanley raised their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their price target on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. Argus raised their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Evercore ISI raised their price target on shares of McKesson from $600.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $599.33.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares in the company, valued at approximately $50,012,564.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Maria Martinez sold 483 shares of McKesson stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares in the company, valued at approximately $50,012,564.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,567 shares of company stock valued at $16,691,841. Company insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.5 %

NYSE:MCK traded up $2.82 during trading hours on Tuesday, reaching $585.82. The company had a trading volume of 207,127 shares, compared to its average volume of 698,449. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17. The firm has a market cap of $76.12 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.35 and a beta of 0.45. The firm’s 50 day moving average price is $579.77 and its 200-day moving average price is $539.70.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same period last year, the firm posted $7.19 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts forecast that McKesson Co. will post 31.67 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

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.