McKesson Co. (NYSE:MCK) Shares Sold by Butensky & Cohen Financial Security Inc.

Butensky & Cohen Financial Security Inc. trimmed its position in shares of McKesson Co. (NYSE:MCK) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,666 shares of the company’s stock after selling 202 shares during the quarter. McKesson makes up about 1.8% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 8th largest holding. Butensky & Cohen Financial Security Inc.’s holdings in McKesson were worth $5,832,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock valued at $1,683,000 after buying an additional 16 shares during the last quarter. Frank Rimerman Advisors LLC lifted its holdings in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after buying an additional 17 shares during the last quarter. Eagle Rock Investment Company LLC lifted its holdings in shares of McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company’s stock valued at $3,229,000 after buying an additional 17 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares during the last quarter. Finally, First Western Trust Bank lifted its holdings in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after purchasing an additional 18 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $692.46.

McKesson Stock Up 0.2%

Shares of MCK stock opened at $712.99 on Friday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00. The firm has a market cap of $89.20 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The stock has a 50 day moving average of $699.69 and a 200-day moving average of $641.11.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same period in the previous year, the company earned $6.18 earnings per share. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio is presently 10.99%.

Insider Activity

In other news, CFO Britt J. Vitalone sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the sale, the chief financial officer now directly owns 14,760 shares in the company, valued at approximately $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas L. Rodgers sold 510 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $366,134.10. Following the sale, the executive vice president now owns 5,435 shares in the company, valued at approximately $3,901,840.85. This represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,747 shares of company stock worth $9,852,587. Company insiders own 0.11% of the company’s stock.

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.