McKesson Co. (NYSE:MCK) Holdings Reduced by ORG Partners LLC

ORG Partners LLC lowered its position in McKesson Co. (NYSE:MCK) by 44.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 271 shares of the company’s stock after selling 217 shares during the quarter. ORG Partners LLC’s holdings in McKesson were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Intrust Bank NA acquired a new position in McKesson during the 4th quarter worth $206,000. Raymond James & Associates grew its position in McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after buying an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after buying an additional 5,425 shares during the period. Heritage Wealth Management LLC bought a new stake in shares of McKesson during the 4th quarter worth about $1,538,000. Finally, Insight Wealth Strategies LLC acquired a new stake in shares of McKesson in the 4th quarter worth approximately $1,813,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Susan R. Salka sold 606 shares of the business’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 value of $338,172.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,567 shares of company stock valued at $16,691,841. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Up 0.3 %

Shares of McKesson stock traded up $1.47 during midday trading on Friday, hitting $576.70. The company’s stock had a trading volume of 436,514 shares, compared to its average volume of 701,511. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $612.17. The firm has a market capitalization of $74.94 billion, a P/E ratio of 25.99, a PEG ratio of 1.37 and a beta of 0.45. The stock has a 50-day simple moving average of $574.91 and a 200-day simple moving average of $533.02.

McKesson (NYSE:MCK) last announced 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). The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.19 earnings per share. As a group, sell-side analysts predict that McKesson Co. will post 31.53 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio is presently 11.08%.

Analysts Set New Price Targets

A number of research analysts recently commented on MCK shares. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Citigroup upped their price objective on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Argus raised their target price on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Wells Fargo & Company boosted their price target on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Finally, Morgan Stanley raised 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. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $596.00.

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.