KG&L Capital Management LLC Sells 430 Shares of McKesson Corporation (NYSE:MCK)

KG&L Capital Management LLC decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 57.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325 shares of the company’s stock after selling 430 shares during the quarter. KG&L Capital Management LLC’s holdings in McKesson were worth $219,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the last quarter. IFP Advisors Inc lifted its stake in McKesson by 82.1% during the 4th quarter. IFP Advisors Inc now owns 2,407 shares of the company’s stock valued at $1,372,000 after acquiring an additional 1,085 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in McKesson during the 4th quarter valued at $249,000. Lake Street Advisors Group LLC lifted its stake in McKesson by 5.0% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,092 shares of the company’s stock valued at $1,194,000 after acquiring an additional 99 shares in the last quarter. Finally, Advisor OS LLC purchased a new stake in shares of McKesson during the 4th quarter valued at $302,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 0.6%

Shares of NYSE MCK opened at $722.74 on Friday. The business has a fifty day simple moving average of $710.61 and a two-hundred day simple moving average of $651.09. The firm has a market cap 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. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $733.10.

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

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 19,370 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president now owns 2,544 shares in the company, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock valued at $23,526,451 over the last quarter. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCK. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an “equal weight” rating in a research report on Tuesday, June 3rd. Morgan Stanley lifted their price target on McKesson from $745.00 to $770.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Finally, Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.