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

Symmetry Partners LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 43.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,817 shares of the company’s stock after selling 2,992 shares during the quarter. Symmetry Partners LLC’s holdings in McKesson were worth $2,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Douglass Winthrop Advisors LLC raised its stake in McKesson by 1.4% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after purchasing an additional 21 shares during the period. Addison Advisors LLC raised its stake in McKesson by 7.9% during the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after purchasing an additional 22 shares during the period. Evergreen Wealth Solutions LLC raised its stake in McKesson by 1.2% during the fourth quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock worth $894,000 after purchasing an additional 22 shares during the period. Keystone Financial Services raised its stake in shares of McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after acquiring an additional 24 shares during the period. Finally, Carolinas Wealth Consulting LLC raised its stake in shares of McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 0.9 %

NYSE:MCK traded up $5.65 during trading hours on Tuesday, reaching $603.10. 336,949 shares of the company’s stock were exchanged, compared to its average volume of 704,157. The firm has a market capitalization of $78.40 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 1.38 and a beta of 0.47. The company has a 50-day moving average of $552.34 and a 200 day moving average of $516.61. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $604.15.

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 firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.19 EPS. Research analysts forecast that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

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. 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 0.41%. McKesson’s payout ratio is currently 11.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MCK shares. Argus boosted their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Evercore ISI boosted their price target 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. SVB Leerink started coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Citigroup boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $571.47.

Insider Activity

In other news, Director Susan R. Salka sold 606 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Susan R. Salka sold 606 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas L. Rodgers sold 789 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the completion of the transaction, the executive vice president now 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. Insiders sold 25,814 shares of company stock worth $14,511,649 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

McKesson Company 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.