McKesson Co. (NYSE:MCK) Stock Position Raised by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 71.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 727 shares of the company’s stock after buying an additional 302 shares during the period. NorthCrest Asset Manangement LLC’s holdings in McKesson were worth $489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. Capital A Wealth Management LLC bought a new position in McKesson in the 4th quarter worth about $26,000. Millstone Evans Group LLC bought a new position in McKesson in the 4th quarter worth about $28,000. Atala Financial Inc bought a new position in McKesson in the 4th quarter worth about $34,000. Graney & King LLC bought a new position in McKesson in the 4th quarter worth about $38,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson in the 4th quarter worth about $44,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president now owns 2,544 shares in the company, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer now owns 51,243 shares in the company, valued at $36,173,970.99. This trade represents a 27.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock worth $23,526,451 in the last quarter. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 0.5%

MCK stock opened at $727.15 on Monday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $732.99. The company has a fifty day simple moving average of $703.28 and a 200 day simple moving average of $644.62. The firm has a market cap of $90.98 billion, a PE ratio of 33.29, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter in the previous year, the business earned $6.18 EPS. McKesson’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MCK shares. Mizuho upped their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley upped their price target on shares of McKesson from $745.00 to $770.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an “equal weight” rating in a research note on Tuesday, June 3rd. Finally, UBS Group upped their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $694.38.

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.