Kowal Investment Group LLC Makes New $239,000 Investment in McKesson Co. (NYSE:MCK)

Kowal Investment Group LLC purchased a new position in McKesson Co. (NYSE:MCK) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 445 shares of the company’s stock, valued at approximately $239,000.

A number of other large investors have also added to or reduced their stakes in MCK. Sachetta LLC bought a new stake in McKesson in the 4th quarter worth $27,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson in the 1st quarter worth about $29,000. BKM Wealth Management LLC purchased a new stake in shares of McKesson in the 4th quarter worth about $31,000. Richardson Financial Services Inc. purchased a new stake in shares of McKesson in the 4th quarter worth about $31,000. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other McKesson news, EVP Leann B. Smith sold 704 shares of McKesson stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the transaction, the executive vice president now owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,814 shares of company stock worth $14,511,649. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

NYSE:MCK opened at $586.34 on Tuesday. The firm has a market cap of $76.19 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.37 and a beta of 0.45. McKesson Co. has a fifty-two week low of $395.30 and a fifty-two week high of $612.17. The firm has a 50-day simple moving average of $565.88 and a two-hundred day simple moving average of $525.49.

McKesson (NYSE:MCK) last announced its earnings results 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 business had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $7.19 earnings per share. On average, equities research analysts predict that McKesson Co. will post 31.54 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio (DPR) is 11.08%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. Bank of America raised their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Robert W. Baird raised their target price on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Wells Fargo & Company raised their target price on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Citigroup raised their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $590.47.

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.