McKesson Co. (NYSE:MCK) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. trimmed its holdings in McKesson Co. (NYSE:MCK) by 3.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,430 shares of the company’s stock after selling 50 shares during the period. Hillsdale Investment Management Inc.’s holdings in McKesson were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent analyst reports. Wells Fargo & Company raised 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. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 2nd. Morgan Stanley lifted their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Evercore ISI lifted their price target on shares of McKesson from $600.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Finally, Robert W. Baird lifted their price target on shares of McKesson from $679.00 to $694.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $599.33.

McKesson Price Performance

Shares of NYSE MCK traded up $1.99 during midday trading on Tuesday, hitting $584.99. The company’s stock had a trading volume of 125,201 shares, compared to its average volume of 697,864. The business’s fifty day simple moving average is $579.77 and its two-hundred day simple moving average is $539.70. McKesson Co. has a 1 year low of $395.30 and a 1 year high of $612.17. The firm has a market capitalization of $76.01 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.35 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the prior year, the firm earned $7.19 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Analysts anticipate that McKesson Co. will post 31.67 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. McKesson’s dividend payout ratio is currently 11.08%.

Insider Buying and Selling

In related news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on 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 business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the sale, the chief executive officer now owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The disclosure for this sale can be found here. Insiders sold 29,567 shares of company stock worth $16,691,841 over the last 90 days. 0.11% of the stock is owned by 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.