McKesson Co. (NYSE:MCK) Stock Holdings Lowered by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. reduced its holdings in McKesson Co. (NYSE:MCK) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,110 shares of the company’s stock after selling 222 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in McKesson were worth $2,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Kovack Advisors Inc. raised its holdings in shares of McKesson by 53.4% in the 1st quarter. Kovack Advisors Inc. now owns 2,313 shares of the company’s stock worth $1,242,000 after purchasing an additional 805 shares in the last quarter. Norden Group LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $295,000. Meadow Creek Wealth Advisors LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $239,000. BluePath Capital Management LLC increased its position in shares of McKesson by 34.4% in the first quarter. BluePath Capital Management LLC now owns 821 shares of the company’s stock worth $441,000 after acquiring an additional 210 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its position in shares of McKesson by 2.7% in the first quarter. SeaCrest Wealth Management LLC now owns 2,401 shares of the company’s stock worth $1,289,000 after acquiring an additional 62 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MCK has been the topic of several analyst reports. Barclays lifted their target price on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Bank of America lifted their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, UBS Group boosted their price objective on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $590.47.

McKesson Stock Down 0.3 %

NYSE:MCK traded down $1.48 during mid-day trading on Thursday, reaching $583.35. 313,911 shares of the company were exchanged, compared to its average volume of 619,046. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $612.17. The company has a fifty day moving average of $568.11 and a 200 day moving average of $527.53. The stock has a market cap of $75.80 billion, a PE ratio of 26.10, a PEG ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 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 company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same period in the prior year, the company earned $7.19 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

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

Insiders Place Their Bets

In other McKesson news, Director Maria Martinez sold 483 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Leann B. Smith sold 600 shares of the 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 sale, the executive vice president now directly owns 2,022 shares in the company, valued at approximately $1,183,941.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maria Martinez sold 483 shares of the 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. Insiders have sold a total of 25,814 shares of company stock valued at $14,511,649 in the last 90 days. 0.11% of the stock is currently 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.