6,816 Shares in McKesson Corporation (NYSE:MCK) Purchased by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,816 shares of the company's stock, valued at approximately $4,587,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew 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 acquiring an additional 222,496 shares in the last quarter. Geode Capital Management LLC raised its holdings in McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after purchasing an additional 10,015 shares during the period. Franklin Resources Inc. raised its holdings in shares of McKesson by 4.6% during the fourth 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 period. GAMMA Investing LLC increased its stake in McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares during the last quarter. Finally, Norges Bank bought a new position in shares of McKesson in the 4th quarter valued at about $1,200,361,000. Institutional investors own 85.07% of the company's stock.

McKesson Trading Down 0.1%

Shares of MCK stock opened at $709.84 on Friday. The company has a market capitalization of $88.81 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.42 and a beta of 0.48. The stock's fifty day simple moving average is $716.44 and its 200-day simple moving average is $667.56. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business posted $6.18 EPS. The firm's revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's dividend payout ratio (DPR) is 10.99%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president directly owned 2,621 shares in the company, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer directly owned 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,488 shares of company stock worth $37,242,862 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MCK shares. Morgan Stanley reaffirmed an "overweight" rating and set a $810.00 price target (up previously from $770.00) on shares of McKesson in a report on Wednesday. Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. UBS Group upped their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $710.17.

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.

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