McKesson Corporation (NYSE:MCK) Shares Acquired by MorganRosel Wealth Management LLC

MorganRosel Wealth Management LLC increased its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 77.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,082 shares of the company's stock after purchasing an additional 471 shares during the quarter. MorganRosel Wealth Management LLC's holdings in McKesson were worth $728,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC raised its position in McKesson by 6.0% during the first quarter. CVA Family Office LLC now owns 265 shares of the company's stock worth $178,000 after acquiring an additional 15 shares during the last quarter. Palisade Asset Management LLC raised its position in shares of McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock worth $481,000 after purchasing an additional 15 shares during the last quarter. Parallel Advisors LLC lifted its stake in McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after buying an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC grew its holdings in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after buying an additional 17 shares during the last quarter. Finally, Eagle Rock Investment Company LLC increased its position in McKesson by 0.4% during the first quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock worth $3,229,000 after buying an additional 17 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Up 0.6%

Shares of McKesson stock opened at $725.99 on Monday. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $736.36. The stock has a market cap of $90.83 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.49. The company has a fifty day moving average price of $711.19 and a 200 day moving average price of $653.10.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.18 earnings per share. Analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Insider Activity

In related news, EVP Leann B. Smith sold 341 shares of McKesson stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the sale, the executive vice president now owns 2,800 shares in the company, valued at approximately $2,010,148. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer now owns 51,243 shares in the company, valued at $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,117 shares of company stock worth $23,526,451. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCK. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Morgan Stanley boosted their price target on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus 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.

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