McKesson Co. (NYSE:MCK) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in shares of McKesson Co. (NYSE:MCKFree Report) by 75,632.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,393,152 shares of the company’s stock after purchasing an additional 2,389,992 shares during the period. GAMMA Investing LLC owned approximately 1.91% of McKesson worth $1,610,567,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of McKesson during the fourth quarter worth about $1,200,361,000. Farallon Capital Management LLC acquired a new stake in McKesson during the 4th quarter worth approximately $348,044,000. Marshall Wace LLP grew its stake in shares of McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock valued at $204,553,000 after purchasing an additional 358,322 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $182,861,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $178,397,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $4,544,812.80. Following the sale, the chief financial officer now directly owns 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 341 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $244,807.31. Following the transaction, the executive vice president now directly owns 2,800 shares of the company’s stock, valued at approximately $2,010,148. This trade represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,856 shares of company stock valued at $7,793,675 in the last 90 days. 0.11% of the stock is currently owned by insiders.

McKesson Trading Up 0.0%

Shares of MCK opened at $712.27 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00. The firm has a market capitalization of $89.11 billion, a P/E ratio of 32.61, a PEG ratio of 1.29 and a beta of 0.53. The firm’s 50-day moving average is $694.04 and its two-hundred day moving average is $636.97.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same quarter in the prior year, the firm posted $6.18 EPS. The company’s revenue was up 18.9% compared to the same quarter last year. Analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio is currently 10.99%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent research reports. Wall Street Zen downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 21st. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Morgan Stanley increased their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Finally, Bank of America lifted their price objective on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

Get Our Latest Report on McKesson

McKesson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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