McKesson Corporation (NYSE:MCK) Shares Sold by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC trimmed its position in McKesson Corporation (NYSE:MCK) by 19.6% in the first quarter, HoldingsChannel.com reports. The firm owned 505 shares of the company’s stock after selling 123 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in McKesson were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Capital A Wealth Management LLC acquired a new stake in McKesson during the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new position in shares of McKesson in the 4th quarter worth $28,000. Atala Financial Inc acquired a new stake in shares of McKesson during the fourth quarter worth $34,000. Graney & King LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $38,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of McKesson in the 4th quarter valued at $67,000. 85.07% of the stock is owned by institutional investors.

McKesson Trading Up 0.6%

NYSE MCK opened at $722.74 on Friday. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $733.10. The company has a fifty day simple moving average of $710.61 and a 200 day simple moving average of $651.09. The company has a market cap of $90.42 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.43 and a beta of 0.49.

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

McKesson Announces Dividend

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 given 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 is currently 10.99%.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company’s 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 owns 1,972 shares of the company’s stock, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 19,370 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the sale, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 over the last three months. 0.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on MCK. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Morgan Stanley raised their target price on McKesson from $745.00 to $770.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. UBS Group increased their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 14th. Finally, Bank of America lifted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $696.42.

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.