SeaCrest Wealth Management LLC Increases Stake in McKesson Co. (NYSE:MCK)

SeaCrest Wealth Management LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,401 shares of the company’s stock after purchasing an additional 62 shares during the period. SeaCrest Wealth Management LLC’s holdings in McKesson were worth $1,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new position in McKesson in the 1st quarter valued at $294,000. Leonard Rickey Investment Advisors P.L.L.C. bought a new stake in shares of McKesson during the first quarter valued at approximately $206,000. Allspring Global Investments Holdings LLC grew its stake in McKesson by 5.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 90,606 shares of the company’s stock worth $48,642,000 after purchasing an additional 4,827 shares in the last quarter. Oak Thistle LLC bought a new stake in McKesson during the 1st quarter valued at $258,000. Finally, Claro Advisors LLC increased its stake in shares of McKesson by 2.7% during the first quarter. Claro Advisors LLC now owns 2,065 shares of the company’s stock valued at $1,108,000 after buying an additional 55 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Argus raised their target price on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird boosted their price objective on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Citigroup lifted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, TD Cowen boosted their price target on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $590.47.

McKesson Stock Down 0.3 %

Shares of McKesson stock opened at $584.83 on Wednesday. The firm has a market capitalization of $75.99 billion, a P/E ratio of 26.13, a PEG ratio of 1.37 and a beta of 0.45. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17. The company has a 50 day moving average price of $567.05 and a 200 day moving average price of $526.51.

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

McKesson Announces Dividend

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

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s 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 sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Britt J. Vitalone sold 12,752 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the sale, the chief financial officer now directly owns 14,028 shares in the company, valued at $7,828,886.52. The disclosure for this sale can be found here. Insiders sold a total of 25,814 shares of company stock worth $14,511,649 over the last three months. 0.11% of the stock is currently owned by 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.