ERn Financial LLC Acquires Shares of 397 McKesson Co. (NYSE:MCK)

ERn Financial LLC acquired a new stake in McKesson Co. (NYSE:MCK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 397 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds also recently bought and sold shares of the company. Sachetta LLC acquired a new stake in McKesson in the 4th quarter valued at about $27,000. Richardson Financial Services Inc. acquired a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. BKM Wealth Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. Rise Advisors LLC acquired a new stake in shares of McKesson during the 1st quarter worth approximately $40,000. Finally, Carolinas Wealth Consulting LLC increased its holdings in shares of McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other McKesson news, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the sale, the chief financial officer now owns 16,455 shares of the company’s stock, valued at $9,172,017. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The disclosure for this sale can be found here. Insiders have sold 25,814 shares of company stock worth $14,511,649 in the last ninety days. 0.21% of the stock is owned by corporate insiders.

McKesson Stock Down 1.1 %

Shares of MCK stock opened at $593.20 on Friday. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17. The stock has a market capitalization of $77.08 billion, a PE ratio of 26.51, a P/E/G ratio of 1.40 and a beta of 0.47. The firm has a 50 day moving average of $563.21 and a two-hundred day moving average of $523.26.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $7.19 earnings per share. Analysts expect that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio is currently 11.08%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCK. Bank of America raised their price target on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley raised their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Citigroup raised their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird lifted their target price on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $590.47.

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.