Journey Strategic Wealth LLC Has $555,000 Stock Position in McKesson Corporation (NYSE:MCK)

Journey Strategic Wealth LLC increased its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 76.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 824 shares of the company's stock after buying an additional 357 shares during the quarter. Journey Strategic Wealth LLC's holdings in McKesson were worth $555,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MCK. Brighton Jones LLC raised its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after buying an additional 798 shares during the period. LPL Financial LLC raised its position in McKesson by 7.9% in the fourth quarter. LPL Financial LLC now owns 138,196 shares of the company's stock valued at $78,759,000 after purchasing an additional 10,148 shares during the period. Congress Wealth Management LLC DE raised its position in McKesson by 6.2% in the fourth quarter. Congress Wealth Management LLC DE now owns 2,619 shares of the company's stock valued at $1,493,000 after purchasing an additional 154 shares during the period. Modern Wealth Management LLC grew its stake in shares of McKesson by 80.3% in the fourth quarter. Modern Wealth Management LLC now owns 795 shares of the company's stock worth $480,000 after acquiring an additional 354 shares in the last quarter. Finally, TIAA Trust National Association grew its stake in shares of McKesson by 2.1% in the fourth quarter. TIAA Trust National Association now owns 7,966 shares of the company's stock worth $4,540,000 after acquiring an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on MCK. Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Evercore ISI upped their target price on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Finally, Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $710.17.

McKesson Stock Up 0.2%

NYSE MCK traded up $1.61 on Friday, reaching $711.80. 431,229 shares of the stock traded hands, compared to its average volume of 586,523. The firm's fifty day simple moving average is $717.86 and its 200 day simple moving average is $671.56. The company has a market cap of $89.05 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 1.44 and a beta of 0.48. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same period in the previous year, the firm earned $6.18 EPS. The business's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson's dividend payout ratio is currently 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 1,878 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $1,348,234.98. Following the transaction, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. This represents a 11.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock valued at $37,242,862 over the last three months. 0.08% of the stock is owned by insiders.

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.