McKesson Co. (NYSE:MCK) Shares Sold by Brookstone Capital Management

Brookstone Capital Management cut its holdings in shares of McKesson Co. (NYSE:MCK) by 14.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,306 shares of the company’s stock after selling 1,234 shares during the period. Brookstone Capital Management’s holdings in McKesson were worth $3,922,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Douglass Winthrop Advisors LLC raised its holdings in shares of McKesson by 1.4% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock valued at $700,000 after buying an additional 21 shares during the last quarter. Addison Advisors LLC raised its stake in McKesson by 7.9% during the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock valued at $138,000 after acquiring an additional 22 shares during the last quarter. Evergreen Wealth Solutions LLC raised its stake in McKesson by 1.2% during the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock valued at $894,000 after acquiring an additional 22 shares during the last quarter. RMR Wealth Builders lifted its position in McKesson by 5.2% during the 1st quarter. RMR Wealth Builders now owns 464 shares of the company’s stock worth $249,000 after acquiring an additional 23 shares during the period. Finally, Keystone Financial Services increased its holdings in shares of McKesson by 2.1% in the fourth quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after purchasing an additional 24 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Bank of America increased their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird increased their target price on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. TD Cowen lifted their price target on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Barclays increased their price objective on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $590.47.

McKesson Stock Performance

MCK stock opened at $599.56 on Thursday. The stock’s 50 day moving average price is $561.74 and its 200 day moving average price is $522.73. The firm has a market cap of $77.91 billion, a P/E ratio of 26.79, a PEG ratio of 1.41 and a beta of 0.47. McKesson Co. has a 1 year low of $395.30 and a 1 year high of $612.17.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 dividend yield of 0.41%. The ex-dividend date is Monday, June 3rd. McKesson’s payout ratio is 11.08%.

Insider Buying and Selling

In other McKesson news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the sale, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,814 shares of company stock worth $14,511,649. 0.21% of the stock is owned by insiders.

About McKesson

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.