McKesson Co. (NYSE:MCK) Shares Sold by Mosley Wealth Management

Mosley Wealth Management cut its position in shares of McKesson Co. (NYSE:MCK) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 579 shares of the company’s stock after selling 22 shares during the quarter. Mosley Wealth Management’s holdings in McKesson were worth $311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Kestra Advisory Services LLC grew its stake in shares of McKesson by 1.9% during the third quarter. Kestra Advisory Services LLC now owns 1,947 shares of the company’s stock valued at $847,000 after acquiring an additional 37 shares in the last quarter. LPL Financial LLC increased its holdings in shares of McKesson by 8.3% in the 3rd quarter. LPL Financial LLC now owns 86,130 shares of the company’s stock valued at $37,454,000 after acquiring an additional 6,571 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of McKesson by 20.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 198 shares of the company’s stock valued at $86,000 after acquiring an additional 34 shares in the last quarter. Vinva Investment Management Ltd lifted its stake in McKesson by 3.4% during the third quarter. Vinva Investment Management Ltd now owns 3,925 shares of the company’s stock worth $1,735,000 after purchasing an additional 130 shares during the last quarter. Finally, Roundview Capital LLC increased its stake in McKesson by 58.2% during the third quarter. Roundview Capital LLC now owns 3,678 shares of the company’s stock valued at $1,599,000 after purchasing an additional 1,353 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Britt J. Vitalone sold 894 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 $498,315.60. Following the completion of the transaction, the chief financial officer now owns 16,455 shares in the company, valued at $9,172,017. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other McKesson news, CFO Britt J. Vitalone sold 894 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the sale, the chief financial officer now directly owns 16,455 shares in the company, valued at $9,172,017. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,814 shares of company stock worth $14,511,649. Insiders own 0.21% of the company’s stock.

McKesson Trading Down 1.6 %

MCK stock traded down $9.86 during trading on Thursday, hitting $589.70. 552,090 shares of the stock traded hands, compared to its average volume of 705,101. The stock has a market cap of $76.63 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.41 and a beta of 0.47. The company has a 50 day simple moving average of $561.74 and a 200 day simple moving average of $522.73. McKesson Co. has a one year low of $395.30 and a one year high of $612.17.

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

McKesson Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group upped their price objective on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Bank of America increased their target price on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen upped their target price on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company raised their price target on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Finally, Morgan Stanley increased their price objective on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Two investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.