OMNI 360 Wealth Inc. Purchases Shares of 453 McKesson Corporation (NYSE:MCK)

OMNI 360 Wealth Inc. bought a new position in McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 453 shares of the company's stock, valued at approximately $305,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its position in McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after acquiring an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after buying an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after buying an additional 3,659 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after buying an additional 7,556 shares during the period. Finally, CWA Asset Management Group LLC boosted its position in McKesson by 6.3% during the first quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock valued at $659,000 after buying an additional 58 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MCK. Mizuho upped 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. UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Morgan Stanley upped their price objective on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Finally, Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $706.83.

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the sale, the executive vice president directly owned 2,544 shares in the company, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $895,190.40. Following the sale, the executive vice president owned 2,621 shares in the company, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,117 shares of company stock worth $23,526,451. Insiders own 0.08% of the company's stock.

McKesson Trading Down 1.8%

MCK stock traded down $13.18 on Thursday, hitting $714.05. The company had a trading volume of 544,782 shares, compared to its average volume of 926,437. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89. The stock's 50-day simple moving average is $715.50 and its 200 day simple moving average is $660.30. The stock has a market cap of $89.34 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 1.44 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly 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 business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company's revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $6.18 EPS. Research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

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.