MV Capital Management Inc. Trims Stock Holdings in McKesson Co. (NYSE:MCK)

MV Capital Management Inc. lowered its stake in shares of McKesson Co. (NYSE:MCK) by 40.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139 shares of the company’s stock after selling 96 shares during the quarter. MV Capital Management Inc.’s holdings in McKesson were worth $75,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Sachetta LLC acquired a new position in McKesson in the fourth quarter worth about $27,000. Register Financial Advisors LLC acquired a new position in McKesson in the first quarter worth $29,000. BKM Wealth Management LLC bought a new stake in McKesson during the fourth quarter valued at $31,000. Richardson Financial Services Inc. acquired a new stake in shares of McKesson during the fourth quarter worth $31,000. Finally, Carolinas Wealth Consulting LLC raised its holdings in shares of McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Leann B. Smith sold 704 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the completion of the sale, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Leann B. Smith sold 704 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the completion of the transaction, the executive vice president now owns 2,215 shares in the company, valued at approximately $1,236,169.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Martinez sold 483 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,814 shares of company stock worth $14,511,649. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.3 %

Shares of NYSE:MCK opened at $584.83 on Wednesday. The company has a 50 day moving average of $567.05 and a 200-day moving average of $526.51. The firm has a market cap of $75.99 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.37 and a beta of 0.45. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $612.17.

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

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCK. Morgan Stanley boosted their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group upped their target price on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company upped their price objective on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. Finally, Citigroup raised their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $590.47.

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.