Unique Wealth LLC Buys 376 Shares of McKesson Co. (NYSE:MCK)
by Kim Johansen · The Markets DailyUnique Wealth LLC grew its holdings in McKesson Co. (NYSE:MCK – Free Report) by 22.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,048 shares of the company’s stock after acquiring an additional 376 shares during the period. Unique Wealth LLC’s holdings in McKesson were worth $1,378,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in MCK. Capital A Wealth Management LLC purchased a new stake in shares of McKesson in the fourth quarter worth about $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the fourth quarter worth approximately $28,000. Atala Financial Inc purchased a new stake in shares of McKesson in the fourth quarter worth approximately $34,000. Graney & King LLC purchased a new position in McKesson during the 4th quarter worth $38,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson during the 4th quarter worth $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at McKesson
In related news, EVP Thomas L. Rodgers sold 2,891 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 341 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the transaction, the executive vice president now owns 2,800 shares in the company, valued at $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,747 shares of company stock worth $9,852,587 in the last ninety days. Insiders own 0.11% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on MCK shares. Morgan Stanley raised their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. UBS Group raised their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 30th. Wells Fargo & Company raised their target price on McKesson from $691.00 to $766.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $692.46.
View Our Latest Stock Report on McKesson
McKesson Trading Up 0.2%
MCK stock opened at $710.66 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.00. The stock has a market cap of $88.91 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 1.29 and a beta of 0.53. The business’s 50-day moving average is $698.91 and its 200 day moving average is $640.44.
McKesson (NYSE:MCK – Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.18 EPS. As a group, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.
McKesson Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio is currently 10.99%.
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.
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