McKesson Corporation (NYSE:MCK) Shares Sold by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC lowered its holdings in McKesson Corporation (NYSE:MCK) by 19.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 505 shares of the company’s stock after selling 123 shares during the period. Philip James Wealth Mangement LLC’s holdings in McKesson were worth $340,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew 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 purchasing an additional 798 shares during the period. IFP Advisors Inc increased its holdings in shares of McKesson by 82.1% during the 4th quarter. IFP Advisors Inc now owns 2,407 shares of the company’s stock worth $1,372,000 after buying an additional 1,085 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of McKesson in the 4th quarter worth $249,000. Lake Street Advisors Group LLC grew its position in McKesson by 5.0% during the fourth 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 during the period. Finally, Advisor OS LLC purchased a new position in shares of McKesson in the 4th quarter worth about $302,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the transaction, the executive vice president now directly owns 2,544 shares of the company’s stock, valued at $1,811,785.92. The trade was a 53.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the sale, the chief executive officer now directly owns 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock valued at $23,526,451 over the last quarter. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $722.74 on Friday. The stock has a 50-day simple moving average of $710.61 and a 200 day simple moving average of $651.09. McKesson Corporation has a one year low of $464.42 and a one year high of $733.10. The company has a market capitalization of $90.42 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49.

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

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research analyst reports. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. 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. Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 14th. Morgan Stanley increased their target price on McKesson from $745.00 to $770.00 and gave the company an “overweight” rating in a research note on Wednesday, June 11th. Finally, Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Three 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $696.42.

About McKesson

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.