481 Shares in McKesson Corporation (NYSE:MCK) Bought by Petra Financial Advisors Inc.

Petra Financial Advisors Inc. acquired a new position in McKesson Corporation (NYSE:MCK) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 481 shares of the company’s stock, valued at approximately $324,000.

Several other hedge funds have also bought and sold shares of the stock. Capital A Wealth Management LLC bought a new stake in McKesson during the fourth quarter valued at about $26,000. Millstone Evans Group LLC bought a new stake in McKesson during the fourth quarter valued at about $28,000. Atala Financial Inc bought a new stake in McKesson during the fourth quarter valued at about $34,000. Graney & King LLC bought a new stake in McKesson during the fourth quarter valued at about $38,000. Finally, Kestra Investment Management LLC bought a new stake in McKesson during the fourth quarter valued at about $55,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 51,243 shares in the company, valued at $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the company’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 sale, the executive vice president now owns 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Down 1.1%

NYSE MCK opened at $720.88 on Friday. The firm has a market cap of $90.19 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.49. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $733.10. The business has a 50-day moving average price of $708.42 and a 200-day moving average price of $647.84.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the business earned $6.18 earnings per share. Research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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 given a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson’s dividend payout ratio is currently 10.99%.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. UBS Group boosted their price target on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley boosted their price target on McKesson from $745.00 to $770.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. Wall Street Zen lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Finally, Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an “equal weight” rating in a report on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average 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.