CGN Advisors LLC Sells 62 Shares of McKesson Co. (NYSE:MCK)

CGN Advisors LLC lessened its holdings in McKesson Co. (NYSE:MCK) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,528 shares of the company’s stock after selling 62 shares during the quarter. CGN Advisors LLC’s holdings in McKesson were worth $2,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Global Assets Advisory LLC bought a new stake in McKesson in the 1st quarter valued at $7,489,000. Range Financial Group LLC lifted its position in McKesson by 6.2% during the 1st quarter. Range Financial Group LLC now owns 673 shares of the company’s stock worth $361,000 after buying an additional 39 shares in the last quarter. Lbmc Investment Advisors LLC acquired a new position in McKesson during the 1st quarter worth about $231,000. Ballentine Partners LLC lifted its position in McKesson by 6.5% during the 1st quarter. Ballentine Partners LLC now owns 11,261 shares of the company’s stock worth $6,045,000 after buying an additional 686 shares in the last quarter. Finally, Opal Wealth Advisors LLC lifted its position in McKesson by 34.3% during the 1st quarter. Opal Wealth Advisors LLC now owns 846 shares of the company’s stock worth $454,000 after buying an additional 216 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 704 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the transaction, the executive vice president now owns 2,215 shares in the company, valued at $1,236,169.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McKesson news, EVP Leann B. Smith sold 704 shares of McKesson stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the transaction, the executive vice president now owns 2,215 shares in the company, valued at $1,236,169.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 sale, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The disclosure for this sale can be found here. Insiders have sold 25,814 shares of company stock worth $14,511,649 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. SVB Leerink assumed coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 18th. Robert W. Baird upped their price target on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, TD Cowen upped their target price on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $590.47.

McKesson Stock Up 0.8 %

NYSE:MCK opened at $607.81 on Tuesday. The company has a market cap of $79.01 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.47. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $609.57. The business has a 50 day moving average price of $560.22 and a two-hundred day moving average price of $521.70.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm 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 quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.19 EPS. As a group, analysts anticipate that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s 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.