Red Door Wealth Management LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 352 shares of the company's stock, valued at approximately $237,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. CVA Family Office LLC boosted its holdings 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 buying an additional 15 shares during the last quarter. Palisade Asset Management LLC increased its stake in shares of McKesson by 2.1% in the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after acquiring an additional 15 shares during the last quarter. Parallel Advisors LLC raised its position in shares of 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 acquiring an additional 16 shares during the period. Frank Rimerman Advisors LLC boosted its stake in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after acquiring an additional 17 shares during the last quarter. Finally, Eagle Rock Investment Company LLC boosted its stake in McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock worth $3,229,000 after acquiring an additional 17 shares during the last quarter. 85.07% of the stock is owned by institutional investors.
Analysts Set New Price Targets
MCK has been the topic of several analyst reports. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. 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 report on Wednesday, June 11th. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen upgraded 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $696.42.
Get Our Latest Report on MCK
McKesson Trading Up 1.8%
Shares of MCK stock traded up $12.77 on Thursday, hitting $718.22. 391,731 shares of the stock were exchanged, compared to its average volume of 922,847. The firm has a market capitalization of $89.86 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $736.96. The business has a 50-day moving average of $713.06 and a 200 day moving average of $655.04.
McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating 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 negative return on equity of 201.12% and a net margin of 0.92%. The business's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.18 EPS. As a group, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.
McKesson Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a $0.71 dividend. 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 (DPR) is currently 10.99%.
Insider Transactions at McKesson
In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer directly owned 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 341 shares of the firm'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 $244,807.31. Following the completion of the transaction, the executive vice president owned 2,800 shares of the company's stock, valued at approximately $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is owned by insiders.
McKesson Company Profile
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Free Report)
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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