Fielder Capital Group LLC Boosts Position in McKesson Corporation (NYSE:MCK)

Fielder Capital Group LLC grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 14.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 600 shares of the company’s stock after buying an additional 76 shares during the period. Fielder Capital Group LLC’s holdings in McKesson were worth $404,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. increased its stake in shares of McKesson by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company’s stock valued at $1,622,754,000 after buying an additional 222,496 shares during the period. Geode Capital Management LLC boosted its position in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after purchasing an additional 10,015 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock valued at $1,493,704,000 after purchasing an additional 114,396 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of McKesson by 9.0% during the fourth quarter. Northern Trust Corp now owns 1,532,203 shares of the company’s stock valued at $873,218,000 after purchasing an additional 126,940 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president directly owned 2,621 shares in the company, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock valued at $37,242,862 in the last 90 days. Insiders own 0.08% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $711.80 on Monday. The company has a market cap of $89.05 billion, a P/E ratio of 27.56, a PEG ratio of 1.44 and a beta of 0.48. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The stock’s fifty day moving average price is $717.86 and its 200-day moving average price is $672.71.

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, beating analysts’ consensus estimates of $9.83 by $0.29. The firm 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 company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $6.18 earnings per share. On average, sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MCK. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Evercore ISI lifted their price target on McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. 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. Finally, Morgan Stanley reissued an “overweight” rating and issued a $810.00 target price (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $710.17.

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.