Fidelis Capital Partners LLC raised its holdings in McKesson Corporation (NYSE:MCK – Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,635 shares of the company’s stock after acquiring an additional 280 shares during the quarter. Fidelis Capital Partners LLC’s holdings in McKesson were worth $2,526,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in McKesson in the fourth quarter valued at $26,000. Millstone Evans Group LLC acquired a new stake in McKesson in the fourth quarter valued at $28,000. Atala Financial Inc acquired a new stake in McKesson in the fourth quarter valued at $34,000. Graney & King LLC acquired a new position in McKesson during the fourth quarter worth $38,000. Finally, Cornerstone Planning Group LLC raised its holdings in McKesson by 1,840.0% during the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the company’s stock worth $67,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.
Insiders Place Their Bets
In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president owned 2,544 shares of the company’s stock, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer directly owned 1,972 shares of the company’s stock, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.08% of the stock is currently owned by company insiders.
McKesson Stock Down 1.8%
McKesson (NYSE:MCK – Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during 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 business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.18 earnings per share. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.
McKesson Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson’s dividend payout ratio is currently 10.99%.
Analysts Set New Price Targets
MCK has been the subject of several research reports. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Bank of America lifted their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an “equal weight” rating in a report on Tuesday, June 3rd. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Evercore ISI lifted their price objective on McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $706.83.
View Our Latest Research Report on MCK
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.
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