General Partner Inc. Invests $126,000 in McKesson Co. (NYSE:MCK)

General Partner Inc. purchased a new stake in shares of McKesson Co. (NYSE:MCKFree Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 234 shares of the company’s stock, valued at approximately $126,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sachetta LLC acquired a new position in shares of McKesson during the 4th quarter worth about $27,000. BKM Wealth Management LLC acquired a new position in McKesson in the 4th quarter valued at approximately $31,000. Richardson Financial Services Inc. acquired a new position in McKesson in the 4th quarter valued at approximately $31,000. Carolinas Wealth Consulting LLC raised its holdings in 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 in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in McKesson in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 600 shares of the firm’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 transaction of $351,318.00. Following the completion of the sale, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Leann B. Smith sold 600 shares of McKesson 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 sale, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Maria Martinez sold 483 shares of McKesson stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,814 shares of company stock worth $14,511,649. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MCK. UBS Group upped their price objective on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. TD Cowen upped their price objective on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Argus increased their price target on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $571.47.

Read Our Latest Stock Analysis on McKesson

McKesson Stock Up 0.3 %

McKesson stock traded up $1.98 during mid-day trading on Tuesday, hitting $599.43. 123,012 shares of the company’s stock were exchanged, compared to its average volume of 702,328. The company’s 50 day simple moving average is $552.34 and its 200-day simple moving average is $516.61. McKesson Co. has a fifty-two week low of $395.30 and a fifty-two week high of $599.43. The firm has a market capitalization of $77.92 billion, a P/E ratio of 26.70, a PEG ratio of 1.38 and a beta of 0.47.

McKesson (NYSE:MCKGet Free Report) last announced 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 company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s 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. Research analysts expect that McKesson Co. will post 31.54 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Monday, June 3rd. McKesson’s payout ratio is currently 11.08%.

McKesson Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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