Chapin Davis Inc. Sells 57 Shares of McKesson Co. (NYSE:MCK)

Chapin Davis Inc. cut its holdings in McKesson Co. (NYSE:MCK) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,838 shares of the company’s stock after selling 57 shares during the quarter. Chapin Davis Inc.’s holdings in McKesson were worth $987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MCK. Sachetta LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $27,000. Register Financial Advisors LLC bought a new position in McKesson in the first quarter worth about $29,000. BKM Wealth Management LLC purchased a new stake in McKesson in the fourth quarter worth about $31,000. Richardson Financial Services Inc. bought a new stake in McKesson during the 4th quarter valued at approximately $31,000. Finally, Carolinas Wealth Consulting LLC raised its position in shares of McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MCK shares. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Wells Fargo & Company boosted their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. TD Cowen increased their price target on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Argus boosted their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Evercore ISI raised their target price on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $590.47.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the sale, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maria Martinez sold 483 shares of the company’s stock in a transaction on Friday, June 7th. The stock was 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. Insiders sold a total of 25,814 shares of company stock worth $14,511,649 over the last quarter. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $584.04 on Monday. The stock’s 50-day simple moving average is $565.88 and its two-hundred day simple moving average is $525.49. The stock has a market capitalization of $75.89 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.37 and a beta of 0.45. McKesson Co. has a 52-week low of $395.30 and a 52-week high of $612.17.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (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 the consensus estimate of $79.32 billion. During the same quarter last year, the firm posted $7.19 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts forecast that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio is presently 11.08%.

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.