Daymark Wealth Partners LLC Decreases Holdings in McKesson Corporation (NYSE:MCK)

Daymark Wealth Partners LLC trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 1.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,267 shares of the company’s stock after selling 20 shares during the quarter. Daymark Wealth Partners LLC’s holdings in McKesson were worth $852,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company’s stock valued at $1,622,754,000 after buying an additional 222,496 shares in the last quarter. Geode Capital Management LLC grew its position in McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock worth $1,513,195,000 after acquiring an additional 10,015 shares during the last quarter. Franklin Resources Inc. grew its position in McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the last quarter. GAMMA Investing LLC grew its position in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the last quarter. Finally, Norges Bank bought a new position in McKesson during the 4th quarter worth approximately $1,200,361,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

MCK opened at $722.74 on Friday. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $733.10. The stock has a market capitalization of $90.42 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. The stock’s 50 day moving average price is $710.61 and its 200-day moving average price is $651.09.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson’s payout ratio is 10.99%.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the sale, the chief executive officer now directly owns 51,243 shares in the company, valued at $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock valued at $23,526,451 over the last ninety days. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group raised their price target on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Bank of America raised their price target on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Morgan Stanley raised their price target on McKesson from $745.00 to $770.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an “equal weight” rating in a research report on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $696.42.

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.