Measured Wealth Private Client Group LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Measured Wealth Private Client Group LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 548 shares of the company’s stock, valued at approximately $294,000.

Other hedge funds have also made changes to their positions in the company. Leonard Rickey Investment Advisors P.L.L.C. acquired a new position in McKesson during the first quarter valued at approximately $206,000. Allspring Global Investments Holdings LLC lifted its position in McKesson by 5.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 90,606 shares of the company’s stock worth $48,642,000 after acquiring an additional 4,827 shares during the last quarter. Oak Thistle LLC bought a new stake in McKesson during the first quarter valued at about $258,000. Claro Advisors LLC grew its position in shares of McKesson by 2.7% in the first quarter. Claro Advisors LLC now owns 2,065 shares of the company’s stock valued at $1,108,000 after purchasing an additional 55 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its stake in shares of McKesson by 11.8% in the first quarter. Miracle Mile Advisors LLC now owns 561 shares of the company’s stock worth $301,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $584.83 on Wednesday. The stock has a market cap of $75.99 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. The stock has a 50-day moving average of $567.05 and a 200-day moving average of $526.51. McKesson Co. has a one year low of $395.30 and a one year high of $612.17.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.19 EPS. As a group, research analysts anticipate that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MCK. TD Cowen increased their target price on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Citigroup boosted 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. Bank of America increased their price target on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Argus increased their target price on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Wells Fargo & Company lifted their target price on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $590.47.

Insider Buying and Selling at McKesson

In other 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 value of $338,172.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Leann B. Smith sold 704 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the completion of the sale, the executive vice president now owns 2,215 shares of the company’s stock, valued at approximately $1,236,169.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction on Friday, May 10th. The stock was 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 quarter, insiders have sold 25,814 shares of company stock valued at $14,511,649. 0.11% of the stock is currently owned by corporate insiders.

McKesson 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.