McKesson Corporation (NYSE:MCK) Stock Position Boosted by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC boosted its stake in McKesson Corporation (NYSE:MCK) by 3.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,137 shares of the company’s stock after buying an additional 73 shares during the period. Wellington Shields & Co. LLC’s holdings in McKesson were worth $1,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares in the last quarter. Allianz SE bought a new position in shares of McKesson during the 4th quarter valued at about $177,000. Wellington Management Group LLP boosted its position in shares of McKesson by 18.2% during the 4th quarter. Wellington Management Group LLP now owns 9,179 shares of the company’s stock valued at $5,231,000 after purchasing an additional 1,413 shares in the last quarter. Summit Financial LLC boosted its position in shares of McKesson by 19.7% during the 4th quarter. Summit Financial LLC now owns 1,347 shares of the company’s stock valued at $769,000 after purchasing an additional 222 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after purchasing an additional 10,015 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 1,248 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $895,190.40. Following the transaction, the executive vice president owned 2,621 shares of the company’s stock, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. This trade represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,488 shares of company stock valued at $37,242,862. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on MCK. UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an “equal weight” rating in a research note on Tuesday, June 3rd. Evercore ISI upped their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $710.17.

McKesson Stock Up 0.8%

NYSE:MCK opened at $712.02 on Wednesday. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The firm has a market cap of $89.08 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 1.43 and a beta of 0.48. The company’s 50 day moving average is $717.32 and its 200-day moving average is $673.84.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same quarter last year, the firm posted $6.18 earnings per share. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. Research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared 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 was Monday, June 2nd. McKesson’s dividend payout ratio is 10.99%.

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.