Janney Montgomery Scott LLC Has $31.50 Million Holdings in McKesson Corporation (NYSE:MCK)

Janney Montgomery Scott LLC lifted its holdings in shares of McKesson Corporation (NYSE:MCK) by 5.7% during the first quarter, Holdings Channel.com reports. The firm owned 46,811 shares of the company’s stock after acquiring an additional 2,508 shares during the quarter. Janney Montgomery Scott LLC’s holdings in McKesson were worth $31,503,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. CHB Investment Group LLC lifted its holdings in shares of McKesson by 0.8% during the first quarter. CHB Investment Group LLC now owns 4,643 shares of the company’s stock worth $3,125,000 after purchasing an additional 36 shares during the period. Optas LLC acquired a new position in McKesson in the first quarter valued at $260,000. D Orazio & Associates Inc. lifted its holdings in McKesson by 2.5% in the first quarter. D Orazio & Associates Inc. now owns 1,009 shares of the company’s stock valued at $679,000 after buying an additional 25 shares during the period. Atlas Private Wealth Advisors acquired a new position in McKesson in the first quarter valued at $228,000. Finally, Ritholtz Wealth Management lifted its holdings in McKesson by 1.3% in the first quarter. Ritholtz Wealth Management now owns 13,200 shares of the company’s stock valued at $8,883,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 19,370 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the sale, the chief executive officer now directly owns 51,243 shares of the company’s stock, valued at $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now directly owns 1,972 shares of the company’s stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock valued at $23,526,451 over the last three months. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.7%

MCK opened at $724.47 on Wednesday. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $732.99. The company has a market cap of $90.64 billion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. The company has a fifty day moving average price of $705.65 and a two-hundred day moving average price of $645.81.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm posted $6.18 earnings per share. On average, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is presently 10.99%.

Analyst Ratings Changes

MCK has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Wall Street Zen lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an “equal weight” rating in a report on Tuesday, June 3rd. Morgan Stanley boosted their target price on shares of McKesson from $745.00 to $770.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. Finally, UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $694.38.

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.