McKesson Co. (NYSE:MCK) Shares Purchased by IAM Advisory LLC

IAM Advisory LLC boosted its stake in McKesson Co. (NYSE:MCK) by 1.6% during the 1st quarter, HoldingsChannel reports. The fund owned 3,935 shares of the company’s stock after buying an additional 61 shares during the period. McKesson comprises 0.6% of IAM Advisory LLC’s portfolio, making the stock its 28th largest position. IAM Advisory LLC’s holdings in McKesson were worth $2,113,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after acquiring an additional 294,832 shares in the last quarter. Norges Bank acquired a new stake in shares of McKesson during the fourth quarter worth $1,024,140,000. Putnam Investments LLC raised its holdings in shares of 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 purchasing an additional 62,242 shares during the period. WCM Investment Management LLC raised its holdings in shares of McKesson by 0.4% during the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock worth $500,134,000 after purchasing an additional 4,636 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of McKesson by 0.3% during the third quarter. Wellington Management Group LLP now owns 1,030,180 shares of the company’s stock worth $447,974,000 after purchasing an additional 2,732 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 0.8 %

MCK traded down $4.86 on Wednesday, reaching $599.56. The company had a trading volume of 721,164 shares, compared to its average volume of 705,917. The company has a fifty day moving average of $561.74 and a 200-day moving average of $522.73. The company has a market capitalization of $77.90 billion, a P/E ratio of 26.79, a PEG ratio of 1.41 and a beta of 0.47. McKesson Co. has a one year low of $395.30 and a one year high of $612.17.

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

McKesson Dividend Announcement

The firm 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. This represents a $2.48 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Monday, June 3rd. McKesson’s payout ratio is 11.08%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. Barclays increased their target price on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. UBS Group increased their target price on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Evercore ISI upped 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. Robert W. Baird upped their price target on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $590.47.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Leann B. Smith sold 704 shares of the firm’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 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 SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the sale, the chief executive officer now owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The disclosure for this sale can be found here. In the last three months, insiders sold 25,814 shares of company stock valued at $14,511,649. 0.21% of the stock is owned by insiders.

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.