Eagle Bay Advisors LLC Sells 51 Shares of McKesson Co. (NYSE:MCK)

Eagle Bay Advisors LLC reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 17.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 248 shares of the company’s stock after selling 51 shares during the quarter. Eagle Bay Advisors LLC’s holdings in McKesson were worth $133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sachetta LLC acquired a new position in McKesson in the 4th quarter worth about $27,000. Register Financial Advisors LLC acquired a new position in McKesson in the 1st quarter worth about $29,000. BKM Wealth Management LLC acquired a new position in McKesson in the 4th quarter worth about $31,000. Richardson Financial Services Inc. acquired a new position in McKesson in the 4th quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in McKesson by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 12,752 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the transaction, the chief financial officer now directly owns 14,028 shares in the company, valued at approximately $7,828,886.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McKesson news, CFO Britt J. Vitalone sold 12,752 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the completion of the sale, the chief financial officer now owns 14,028 shares in the company, valued at approximately $7,828,886.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 789 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $439,788.60. Following the completion of the sale, 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. In the last three months, insiders have sold 29,567 shares of company stock worth $16,691,841. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MCK. Morgan Stanley increased their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. UBS Group increased their price target on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Bank of America increased 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. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Wells Fargo & Company increased their price target on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $596.00.

McKesson Trading Down 0.5 %

Shares of NYSE:MCK traded down $3.03 during mid-day trading on Thursday, hitting $579.03. 381,843 shares of the company traded hands, compared to its average volume of 701,794. The stock has a market cap of $75.24 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.36 and a beta of 0.45. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17. The stock has a 50-day moving average price of $578.33 and a two-hundred day moving average price of $536.98.

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). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same period in the prior year, the firm posted $7.19 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 31.67 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s payout ratio is 11.08%.

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.