OMNI 360 Wealth Inc. Makes New $305,000 Investment in McKesson Corporation (NYSE:MCK)

OMNI 360 Wealth Inc. bought a new position in McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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. Capital A Wealth Management LLC acquired a new stake in shares of McKesson in the fourth quarter worth $26,000. Millstone Evans Group LLC bought a new stake in McKesson in the 4th quarter valued at $28,000. Atala Financial Inc bought a new position in McKesson during the fourth quarter worth about $34,000. Graney & King LLC bought a new position in shares of McKesson during the fourth quarter valued at $38,000. Finally, CoreFirst Bank & Trust bought a new stake in McKesson during the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

NYSE:MCK traded up $3.02 on Wednesday, reaching $727.13. 627,452 shares of the company's stock were exchanged, compared to its average volume of 927,964. The firm has a market cap of $90.97 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.44 and a beta of 0.48. The stock has a fifty day simple moving average of $715.21 and a 200-day simple moving average of $659.83. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last released 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 firm 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 business's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.18 earnings per share. As a group, sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCK. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Bank of America boosted their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Finally, Morgan Stanley boosted their price target on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $706.83.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction on Friday, May 30th. The stock was 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 approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 1,878 shares of McKesson stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the completion of the sale, the chief financial officer owned 14,028 shares of the company's stock, valued at $10,070,841.48. This represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,117 shares of company stock worth $23,526,451. Insiders own 0.08% of the company's stock.

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.