SMART Wealth LLC Makes New $236,000 Investment in McKesson Corporation (NYSE:MCK)

SMART Wealth LLC bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 351 shares of the company's stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Capital A Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $28,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter worth $34,000. Graney & King LLC bought a new position in McKesson during the fourth quarter worth $38,000. Finally, CoreFirst Bank & Trust bought a new position in McKesson during the fourth quarter worth $67,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 27th. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Morgan Stanley raised their price objective on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Finally, UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average price target of $696.42.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction that occurred 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 directly owned 2,621 shares of the company's stock, valued at $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 2,544 shares of the company's stock, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock worth $23,526,451 over the last quarter. Corporate insiders own 0.08% of the company's stock.

McKesson Stock Performance

Shares of NYSE MCK traded up $13.85 during midday trading on Friday, reaching $719.30. 392,096 shares of the company traded hands, compared to its average volume of 924,875. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $736.96. The stock's 50-day simple moving average is $713.68 and its 200-day simple moving average is $656.07. The firm has a market cap of $89.99 billion, a PE ratio of 27.85, a PEG ratio of 1.44 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm's quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm posted $6.18 EPS. On average, equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson's dividend payout ratio is 10.99%.

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.