McKesson Co. (NYSE:MCK) Shares Sold by QV Investors Inc.

QV Investors Inc. lowered its holdings in McKesson Co. (NYSE:MCK) by 6.7% in the first quarter, Holdings Channel.com reports. The fund owned 3,209 shares of the company’s stock after selling 230 shares during the quarter. QV Investors Inc.’s holdings in McKesson were worth $2,160,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in shares of McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock valued at $1,683,000 after purchasing an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after buying an additional 17 shares during the period. Hemington Wealth Management increased its holdings in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares in the last quarter. First Western Trust Bank increased its holdings in McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after buying an additional 18 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its position in shares of McKesson by 0.9% during the 1st quarter. Moody National Bank Trust Division now owns 2,003 shares of the company’s stock valued at $1,348,000 after acquiring an additional 18 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MCK. UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Wall Street Zen raised McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday. Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $686.69.

McKesson Stock Performance

MCK stock opened at $719.85 on Monday. The company has a 50 day moving average price of $695.18 and a two-hundred day moving average price of $637.96. The stock has a market capitalization of $90.06 billion, a P/E ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $731.00.

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

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 1,248 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the sale, the executive vice president now directly owns 2,621 shares in the company, valued at $1,880,043.30. This represents a 32.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 510 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $366,134.10. Following the completion of the transaction, the executive vice president now directly owns 5,435 shares in the company, valued at $3,901,840.85. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,856 shares of company stock worth $7,793,675 in the last 90 days. 0.11% of the stock is owned by company insiders.

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.