McKesson Co. (NYSE:MCK) Shares Acquired by Breakwater Capital Group

Breakwater Capital Group increased its holdings in shares of McKesson Co. (NYSE:MCK) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 469 shares of the company’s stock after acquiring an additional 36 shares during the quarter. Breakwater Capital Group’s holdings in McKesson were worth $316,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of McKesson by 6.1% during the 4th quarter. DAVENPORT & Co LLC now owns 2,147 shares of the company’s stock worth $1,223,000 after acquiring an additional 124 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of McKesson by 16.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,526 shares of the company’s stock valued at $10,062,000 after acquiring an additional 2,414 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of McKesson by 39.6% in the fourth quarter. Bleakley Financial Group LLC now owns 4,760 shares of the company’s stock valued at $2,713,000 after purchasing an additional 1,351 shares during the period. Finally, Silver Oak Securities Incorporated grew its holdings in shares of McKesson by 124.2% in the fourth quarter. Silver Oak Securities Incorporated now owns 1,083 shares of the company’s stock valued at $618,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the sale, the chief financial officer now directly owns 14,760 shares of the company’s stock, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,747 shares of company stock worth $9,852,587. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.2%

Shares of NYSE:MCK opened at $712.99 on Friday. The company has a market cap of $89.20 billion, a PE ratio of 32.65, a P/E/G ratio of 1.29 and a beta of 0.53. The company’s 50 day moving average is $699.69 and its two-hundred day moving average is $641.11. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) 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 company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same period in the previous year, the business earned $6.18 EPS. McKesson’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities research analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MCK shares. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley lifted their price target on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Wall Street Zen upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Finally, UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $692.46.

McKesson 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.