InTrack Investment Management Inc Sells 610 Shares of McKesson Co. (NYSE:MCK)

InTrack Investment Management Inc lowered its holdings in McKesson Co. (NYSE:MCK) by 29.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,496 shares of the company’s stock after selling 610 shares during the quarter. InTrack Investment Management Inc’s holdings in McKesson were worth $803,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in McKesson in the fourth quarter valued at $1,024,140,000. International Assets Investment Management LLC increased its position in shares of McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after buying an additional 749,504 shares during the period. TD Asset Management Inc increased its position in shares of McKesson by 202.8% during the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after buying an additional 403,312 shares during the period. Morgan Stanley raised its stake in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in McKesson by 5,683.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock worth $104,178,000 after buying an additional 221,125 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 704 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the sale, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at approximately $1,236,169.35. The disclosure for this sale can be found here. Insiders have sold a total of 25,814 shares of company stock worth $14,511,649 over the last quarter. Company insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.3 %

MCK stock traded down $1.51 during midday trading on Tuesday, hitting $584.83. The company’s stock had a trading volume of 543,525 shares, compared to its average volume of 710,722. The firm’s 50-day moving average is $567.05 and its 200-day moving average is $526.51. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $612.17. The company has a market cap of $75.99 billion, a PE ratio of 26.13, a P/E/G ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last announced 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 net margin of 0.97% and a negative return on equity of 245.88%. The business had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same period in the previous year, the company earned $7.19 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts expect that McKesson Co. will post 31.54 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. Stockholders of record on Monday, June 3rd were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. McKesson’s payout ratio is 11.08%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Evercore ISI upped their target price on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Morgan Stanley increased their price objective on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. UBS Group boosted their target price on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. TD Cowen upped their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Argus lifted their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $590.47.

McKesson 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.