Wedmont Private Capital Boosts Position in McKesson Co. (NYSE:MCK)

Wedmont Private Capital increased its stake in McKesson Co. (NYSE:MCK) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,719 shares of the company’s stock after buying an additional 66 shares during the period. Wedmont Private Capital’s holdings in McKesson were worth $906,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MCK. Norges Bank purchased a new position in McKesson during the 4th quarter valued at about $1,024,140,000. International Assets Investment Management LLC increased its position in McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after purchasing an additional 749,504 shares during the period. TD Asset Management Inc increased its position in McKesson by 202.8% during the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after purchasing an additional 403,312 shares during the period. Morgan Stanley increased its position in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in McKesson by 92.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after purchasing an additional 272,266 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, Director Maria Martinez sold 483 shares of McKesson stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McKesson news, CFO Britt J. Vitalone sold 894 shares of McKesson stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the transaction, the chief financial officer now owns 16,455 shares of the company’s stock, valued at $9,172,017. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria Martinez sold 483 shares of McKesson stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,814 shares of company stock worth $14,511,649. Company insiders own 0.21% of the company’s stock.

McKesson Stock Down 0.0 %

MCK stock opened at $603.08 on Friday. The firm has a 50 day moving average of $558.51 and a 200 day moving average of $519.77. The stock has a market capitalization of $78.39 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.41 and a beta of 0.47. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $606.32.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the previous year, the firm posted $7.19 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts expect that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s payout ratio is 11.08%.

Analyst Ratings Changes

MCK has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Citigroup lifted their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird lifted their price objective on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company lifted their price objective on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $571.47.

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.