MV Capital Management Inc. Has $75,000 Stake in McKesson Co. (NYSE:MCK)

MV Capital Management Inc. lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 40.9% during the first quarter, HoldingsChannel.com reports. The firm owned 139 shares of the company’s stock after selling 96 shares during the quarter. MV Capital Management Inc.’s holdings in McKesson were worth $75,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Sachetta LLC acquired a new stake in McKesson during the fourth quarter worth approximately $27,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the 1st quarter valued at $29,000. BKM Wealth Management LLC bought a new stake in shares of McKesson during the 4th quarter valued at $31,000. Richardson Financial Services Inc. acquired a new stake in shares of McKesson during the 4th quarter worth $31,000. Finally, Carolinas Wealth Consulting LLC increased its position in shares of McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the period. 85.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 owns 16,455 shares of the company’s stock, valued at $9,172,017. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the sale, the chief financial officer now directly owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 789 shares of McKesson stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total transaction of $439,788.60. Following the transaction, the executive vice president now directly owns 7,909 shares of the company’s stock, valued at approximately $4,408,476.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,814 shares of company stock valued at $14,511,649. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective 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. Morgan Stanley increased their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Evercore ISI lifted their price objective on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Bank of America lifted their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $590.47.

McKesson Trading Down 0.3 %

NYSE:MCK opened at $584.83 on Wednesday. The stock’s 50-day moving average is $567.05 and its 200-day moving average is $526.51. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $612.17. The stock has a market cap of $75.99 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share 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 company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.19 earnings per share. As a group, equities analysts forecast that McKesson Co. will post 31.54 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio is currently 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.