McKesson Co. (NYSE:MCK) Shares Sold by Stablepoint Partners LLC

Stablepoint Partners LLC decreased its stake in McKesson Co. (NYSE:MCK) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,425 shares of the company’s stock after selling 36 shares during the quarter. Stablepoint Partners LLC’s holdings in McKesson were worth $1,632,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its position in McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the last quarter. Norges Bank acquired a new position in McKesson during the fourth quarter worth about $1,200,361,000. Farallon Capital Management LLC acquired a new position in McKesson during the fourth quarter worth about $348,044,000. Marshall Wace LLP boosted its position in McKesson by 59,720.3% during the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after acquiring an additional 358,322 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC acquired a new position in McKesson during the fourth quarter worth about $182,861,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 341 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president now directly owns 2,800 shares of the company’s stock, valued at approximately $2,010,148. This represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,747 shares of company stock valued at $9,852,587. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.2%

McKesson stock opened at $710.66 on Friday. The firm has a market cap of $88.91 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00. The company’s 50 day moving average is $698.91 and its two-hundred day moving average is $640.44.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business earned $6.18 EPS. On average, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be 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 is Monday, June 2nd. McKesson’s dividend payout ratio is presently 10.99%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of McKesson from $691.00 to $766.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Mizuho boosted 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. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a report on Friday, May 9th. Morgan Stanley boosted their target price on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $692.46.

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.