Strategic Investment Advisors MI Sells 190 Shares of McKesson Corporation (NYSE:MCK)

Strategic Investment Advisors MI decreased its holdings in McKesson Corporation (NYSE:MCK) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,344 shares of the company’s stock after selling 190 shares during the period. Strategic Investment Advisors MI’s holdings in McKesson were worth $904,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in McKesson during the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC purchased a new position in shares of McKesson during the 4th quarter worth about $28,000. Atala Financial Inc purchased a new stake in McKesson in the fourth quarter worth $34,000. Graney & King LLC purchased a new stake in shares of McKesson in the fourth quarter valued at approximately $38,000. Finally, CoreFirst Bank & Trust bought a new position in McKesson during the 4th quarter worth about $67,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $721.58 on Wednesday. The business’s 50 day moving average price is $709.57 and its 200-day moving average price is $649.70. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $733.10. The firm has a market capitalization of $90.28 billion, a PE ratio of 27.94, a P/E/G ratio of 1.44 and a beta of 0.49.

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

McKesson Dividend Announcement

The business also recently announced 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 payout ratio is currently 10.99%.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas L. Rodgers sold 510 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $366,134.10. Following the sale, the executive vice president now directly owns 5,435 shares of the company’s stock, valued at $3,901,840.85. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock valued at $23,526,451 in the last three months. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wall Street Zen lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. UBS Group boosted their price objective on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an “equal weight” rating in a research report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $696.42.

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.