90 Shares in McKesson Co. (NYSE:MCK) Bought by ZRC Wealth Management LLC

ZRC Wealth Management LLC purchased a new stake in McKesson Co. (NYSE:MCK) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 90 shares of the company’s stock, valued at approximately $48,000.

Several other institutional investors have also added to or reduced their stakes in MCK. Norges Bank purchased a new stake in McKesson during the 4th quarter worth approximately $1,024,140,000. International Assets Investment Management LLC lifted its stake in shares of McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after buying an additional 749,504 shares during the period. TD Asset Management Inc grew its holdings in shares of McKesson by 202.8% during the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after buying an additional 403,312 shares during the last quarter. Morgan Stanley increased its position in shares of McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after acquiring an additional 294,832 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in McKesson by 5,683.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock worth $104,178,000 after acquiring an additional 221,125 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 0.3 %

Shares of MCK opened at $583.35 on Friday. The firm has a market cap of $75.80 billion, a P/E ratio of 26.07, a PEG ratio of 1.36 and a beta of 0.45. The stock’s 50 day moving average is $569.95 and its two-hundred day moving average is $528.31. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $612.17.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion during 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 was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.19 EPS. Equities research analysts forecast that McKesson Co. will post 31.54 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, June 3rd. McKesson’s payout ratio is 11.08%.

Insiders Place Their Bets

In other news, CFO Britt J. Vitalone sold 12,752 shares of the firm’s 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 $7,116,763.68. Following the transaction, the chief financial officer now owns 14,028 shares in the company, valued at $7,828,886.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $498,315.60. Following the completion of the sale, the chief financial officer now owns 16,455 shares of the company’s stock, valued at $9,172,017. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Britt J. Vitalone sold 12,752 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the sale, the chief financial officer now owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The disclosure for this sale can be found here. In the last three months, insiders sold 25,814 shares of company stock worth $14,511,649. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MCK shares. Argus increased their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. TD Cowen increased their price target on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Barclays increased their price objective on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Robert W. Baird boosted their target price on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.