Captrust Financial Advisors Has $18.29 Million Stake in McKesson Co. (NYSE:MCK)

Captrust Financial Advisors lessened its holdings in McKesson Co. (NYSE:MCK) by 9.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,063 shares of the company’s stock after selling 3,516 shares during the period. Captrust Financial Advisors’ holdings in McKesson were worth $18,287,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after buying an additional 46,659 shares in the last quarter. Norges Bank acquired a new position in shares of McKesson during the 4th quarter valued at $1,024,140,000. Putnam Investments LLC raised its holdings in McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares during the last quarter. WCM Investment Management LLC raised its holdings in McKesson by 2.3% during the first quarter. WCM Investment Management LLC now owns 1,118,029 shares of the company’s stock worth $600,214,000 after buying an additional 24,840 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after buying an additional 749,504 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other McKesson news, CFO Britt J. Vitalone sold 12,752 shares of McKesson stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the transaction, the chief financial officer now owns 14,028 shares in the company, valued at $7,828,886.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,567 shares of company stock worth $16,691,841. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MCK shares. UBS Group upped their price objective on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Citigroup increased their target price on shares of McKesson from $620.00 to $670.00 and gave the company a “buy” rating in a report on Friday, July 19th. Argus increased 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. TD Cowen increased their price target on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Robert W. Baird increased their target price on shares of McKesson from $679.00 to $694.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $599.33.

McKesson Stock Performance

MCK stock opened at $609.72 on Wednesday. McKesson Co. has a fifty-two week low of $395.30 and a fifty-two week high of $616.15. The firm has a market cap of $79.23 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The firm has a fifty day moving average price of $584.73 and a 200 day moving average price of $544.59.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.19 EPS. On average, equities analysts predict that McKesson Co. will post 31.68 EPS for the current year.

About McKesson

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.