Davis R M Inc. Sells 71 Shares of McKesson Co. (NYSE:MCK)

Davis R M Inc. lowered its holdings in McKesson Co. (NYSE:MCK) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 865 shares of the company’s stock after selling 71 shares during the period. Davis R M Inc.’s holdings in McKesson were worth $464,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MCK. Dynamic Advisor Solutions LLC acquired a new position in shares of McKesson in the 4th quarter valued at approximately $243,000. BKM Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at approximately $31,000. Cedar Brook Financial Partners LLC acquired a new position in shares of McKesson in the 4th quarter valued at approximately $227,000. SG Americas Securities LLC raised its position in shares of McKesson by 19.2% in the 4th quarter. SG Americas Securities LLC now owns 9,462 shares of the company’s stock valued at $4,381,000 after buying an additional 1,525 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its position in shares of McKesson by 16.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 746 shares of the company’s stock valued at $345,000 after buying an additional 103 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MCK. Robert W. Baird upped their price objective 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. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Bank of America upped their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Citigroup upped their price objective on shares of McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $599.33.

Insider Activity

In related news, CFO Britt J. Vitalone sold 12,752 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the transaction, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Brian S. Tyler sold 3,753 shares of the 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 directly owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Britt J. Vitalone sold 12,752 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the transaction, the chief financial officer now directly owns 14,028 shares in the company, valued at $7,828,886.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,567 shares of company stock valued at $16,691,841. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

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

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same period in the prior year, the company posted $7.19 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts forecast that McKesson Co. will post 31.67 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.08%.

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.