United Capital Financial Advisers LLC cut its position in shares of McKesson Corporation (NYSE:MCK) by 9.1% during the first quarter, Holdings Channel reports. The firm owned 56,288 shares of the company’s stock after selling 5,628 shares during the period. United Capital Financial Advisers LLC’s holdings in McKesson Corporation were worth $8,345,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MCK. Orrstown Financial Services Inc. boosted its stake in McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock worth $106,000 after buying an additional 100 shares during the period. WFG Advisors LP boosted its stake in McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after buying an additional 452 shares during the period. Welch Group LLC boosted its stake in McKesson Corporation by 22.6% in the first quarter. Welch Group LLC now owns 948 shares of the company’s stock worth $141,000 after buying an additional 175 shares during the period. Tompkins Financial Corp boosted its stake in McKesson Corporation by 8.8% in the first quarter. Tompkins Financial Corp now owns 962 shares of the company’s stock worth $151,000 after buying an additional 78 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in McKesson Corporation by 327.7% in the first quarter. Meeder Asset Management Inc. now owns 1,065 shares of the company’s stock worth $158,000 after buying an additional 816 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

McKesson Corporation (NYSE MCK) opened at 165.41 on Wednesday. The company has a market cap of $34.89 billion, a PE ratio of 7.28 and a beta of 1.13. The company has a 50 day moving average price of $164.32 and a 200-day moving average price of $150.40. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $199.27.

McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, May 18th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.35. McKesson Corporation had a return on equity of 29.99% and a net margin of 2.55%. The company had revenue of $48.71 billion for the quarter, compared to analyst estimates of $49.48 billion. During the same period in the previous year, the company posted $2.44 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that McKesson Corporation will post $12.10 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 5th were paid a $0.28 dividend. The ex-dividend date was Thursday, June 1st. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. McKesson Corporation’s dividend payout ratio is currently 4.80%.

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MCK has been the topic of a number of research analyst reports. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 price objective on the stock. in a research report on Wednesday, May 10th. Barclays PLC set a $187.00 price objective on McKesson Corporation and gave the stock a “buy” rating in a research report on Sunday, June 4th. Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Wednesday, July 12th. Finally, Needham & Company LLC started coverage on McKesson Corporation in a research report on Tuesday, April 4th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $171.21.

In other McKesson Corporation news, SVP Erin M. Lampert sold 404 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total value of $64,854.12. Following the transaction, the senior vice president now directly owns 2,003 shares in the company, valued at approximately $321,541.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Erin M. Lampert sold 809 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $160.66, for a total value of $129,973.94. Following the completion of the transaction, the senior vice president now owns 59 shares in the company, valued at $9,478.94. The disclosure for this sale can be found here. Insiders sold a total of 59,148 shares of company stock worth $9,654,255 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

About McKesson Corporation

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

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Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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