Tocqueville Asset Management L.P. Sells 180 Shares of McKesson Co. (NYSE:MCK)

Tocqueville Asset Management L.P. lowered its position in shares of McKesson Co. (NYSE:MCK) by 5.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,224 shares of the company’s stock after selling 180 shares during the period. Tocqueville Asset Management L.P.’s holdings in McKesson were worth $1,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Sachetta LLC bought a new stake in McKesson during the 4th quarter worth $27,000. Register Financial Advisors LLC bought a new stake in McKesson during the 1st quarter worth $29,000. BKM Wealth Management LLC bought a new stake in McKesson during the 4th quarter worth $31,000. Richardson Financial Services Inc. bought a new stake in McKesson during the 4th quarter worth $31,000. Finally, Newbridge Financial Services Group Inc. grew its position in McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK traded up $1.70 during midday trading on Friday, reaching $580.13. The company’s stock had a trading volume of 562,156 shares, compared to its average volume of 675,472. The firm has a market capitalization of $75.38 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.35 and a beta of 0.45. The firm has a 50 day moving average price of $579.20 and a two-hundred day moving average price of $538.53. McKesson Co. has a fifty-two week low of $395.30 and a fifty-two week high of $612.17.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same period last year, the company posted $7.19 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that McKesson Co. will post 31.67 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 2nd. Evercore ISI lifted their target price on McKesson from $600.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Wells Fargo & Company lifted their target price on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Argus lifted their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Citigroup lifted their target price on McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $599.33.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the completion of the sale, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 704 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the sale, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,567 shares of company stock valued at $16,691,841. 0.11% of the stock is owned by company insiders.

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.