Cairn Investment Group Inc. Sells 60 Shares of McKesson Co. (NYSE:MCK)

Cairn Investment Group Inc. cut its stake in McKesson Co. (NYSE:MCK) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,835 shares of the company’s stock after selling 60 shares during the period. McKesson accounts for approximately 1.2% of Cairn Investment Group Inc.’s portfolio, making the stock its 28th largest position. Cairn Investment Group Inc.’s holdings in McKesson were worth $2,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCK. Douglass Winthrop Advisors LLC lifted its position in McKesson by 1.4% during 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 period. Addison Advisors LLC boosted its position in shares of McKesson by 7.9% during the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock valued at $138,000 after buying an additional 22 shares during the last quarter. Evergreen Wealth Solutions LLC increased its holdings in McKesson by 1.2% in the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock worth $894,000 after buying an additional 22 shares in the last quarter. RMR Wealth Builders raised its position in McKesson by 5.2% in the 1st quarter. RMR Wealth Builders now owns 464 shares of the company’s stock worth $249,000 after buying an additional 23 shares during the last quarter. Finally, Keystone Financial Services boosted its holdings in shares of McKesson by 2.1% during the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Thomas L. Rodgers sold 789 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the completion of the transaction, the executive vice president now owns 7,909 shares in the company, valued at approximately $4,408,476.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 600 shares of McKesson stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,814 shares of company stock valued at $14,511,649. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MCK shares. Bank of America raised their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 18th. Barclays increased their price objective on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Evercore ISI lifted their price target on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $590.47.

McKesson Trading Down 2.4 %

Shares of MCK stock traded down $14.66 on Thursday, reaching $584.90. 311,194 shares of the company’s stock were exchanged, compared to its average volume of 703,142. The company’s fifty day simple moving average is $561.74 and its 200 day simple moving average is $522.73. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17. The stock has a market capitalization of $76.00 billion, a PE ratio of 26.56, a P/E/G ratio of 1.41 and a beta of 0.47.

McKesson (NYSE:MCK) last released its quarterly earnings data 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). The company had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $7.19 earnings per share. As a group, sell-side analysts predict that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

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.