Unique Wealth Strategies LLC Buys Shares of 2,089 McKesson Co. (NYSE:MCK)

Unique Wealth Strategies LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,089 shares of the company's stock, valued at approximately $967,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Bank OZK raised its stake in McKesson by 2.1% in the 4th quarter. Bank OZK now owns 3,958 shares of the company's stock worth $1,832,000 after acquiring an additional 80 shares during the last quarter. Addison Advisors LLC raised its holdings in McKesson by 7.9% in the 4th quarter. Addison Advisors LLC now owns 299 shares of the company's stock worth $138,000 after purchasing an additional 22 shares during the period. Citizens Financial Group Inc. RI raised its holdings in McKesson by 26.0% in the 4th quarter. Citizens Financial Group Inc. RI now owns 950 shares of the company's stock worth $440,000 after purchasing an additional 196 shares during the period. Kovack Advisors Inc. increased its stake in McKesson by 96.1% during the 4th quarter. Kovack Advisors Inc. now owns 1,508 shares of the company's stock worth $698,000 after buying an additional 739 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC increased its stake in McKesson by 140.7% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 2,313 shares of the company's stock worth $1,071,000 after buying an additional 1,352 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 186 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company's stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Citigroup increased their target price on McKesson from $530.00 to $575.00 and gave the company a "buy" rating in a report on Thursday, February 8th. UBS Group increased their target price on McKesson from $575.00 to $620.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Argus raised their price target on McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. Finally, Mizuho raised their price target on McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $533.50.

McKesson Stock Up 0.6 %

Shares of MCK traded up $3.36 during mid-day trading on Friday, hitting $543.30. 654,669 shares of the company's stock were exchanged, compared to its average volume of 493,786. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $544.81. The firm has a fifty day moving average of $528.15 and a two-hundred day moving average of $489.72. The stock has a market cap of $71.40 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts' consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same period last year, the firm earned $6.90 EPS. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson's payout ratio is 11.24%.

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.