Oregon Pacific Wealth Management LLC Buys New Position in McKesson Corporation (NYSE:MCK)

Oregon Pacific Wealth Management LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 351 shares of the company's stock, valued at approximately $236,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after acquiring an additional 798 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in McKesson by 13.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,389 shares of the company's stock worth $793,000 after purchasing an additional 160 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of McKesson by 31.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,655 shares of the company's stock valued at $3,793,000 after acquiring an additional 1,604 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in McKesson in the fourth quarter valued at approximately $312,000. Finally, Mission Wealth Management LP lifted its holdings in shares of McKesson by 49.5% in the 4th quarter. Mission Wealth Management LP now owns 2,486 shares of the company's stock worth $1,417,000 after acquiring an additional 823 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

MCK stock traded up $11.58 during trading on Thursday, reaching $717.03. 199,969 shares of the company were exchanged, compared to its average volume of 921,748. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $736.96. The company has a market cap of $89.71 billion, a P/E ratio of 27.71, a PEG ratio of 1.45 and a beta of 0.48. The stock's 50 day moving average price is $713.06 and its 200 day moving average price is $655.04.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same period last year, the firm posted $6.18 EPS. The firm'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 year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors 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 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's dividend payout ratio is presently 10.99%.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Morgan Stanley upped 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. Finally, Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. Three equities research 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $696.42.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the transaction, the executive vice president owned 2,621 shares of the company's stock, valued at $1,880,043.30. This represents a 32.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the transaction, the chief financial officer owned 14,760 shares in the company, valued at $10,587,348. This trade represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.

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.