McKesson Co. (NYSE:MCK) Stock Holdings Cut by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. trimmed its position in shares of McKesson Co. (NYSE:MCK) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,361 shares of the company’s stock after selling 99 shares during the quarter. McKesson accounts for approximately 2.8% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 10th largest holding. Steigerwald Gordon & Koch Inc.’s holdings in McKesson were worth $25,143,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in McKesson during the 4th quarter worth $26,000. Millstone Evans Group LLC purchased a new position in McKesson during the 4th quarter worth $28,000. Atala Financial Inc purchased a new position in McKesson during the 4th quarter worth $34,000. Graney & King LLC purchased a new position in McKesson during the 4th quarter worth $38,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson during the 4th quarter worth $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Down 0.7%

NYSE MCK opened at $709.94 on Thursday. The company has a market cap of $88.82 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00. The firm’s 50-day simple moving average is $698.17 and its two-hundred day simple moving average is $639.78.

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

McKesson Dividend Announcement

The business also recently declared 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 0.40%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio is presently 10.99%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MCK shares. Wall Street Zen raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Finally, Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Three research 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 company. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $692.46.

Insider Activity

In other news, CFO Britt J. Vitalone sold 6,336 shares of the company’s stock in a transaction dated 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 $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 341 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president now owns 2,800 shares in the company, valued at approximately $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,747 shares of company stock worth $9,852,587 over the last ninety days. 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.