Thrive Wealth Management LLC Buys 22 Shares of McKesson Co. (NYSE:MCK)

Thrive Wealth Management LLC grew its stake in McKesson Co. (NYSE:MCK) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,482 shares of the company’s stock after purchasing an additional 22 shares during the quarter. Thrive Wealth Management LLC’s holdings in McKesson were worth $997,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. TruWealth Advisors LLC lifted its holdings in shares of McKesson by 7.6% during the first quarter. TruWealth Advisors LLC now owns 1,155 shares of the company’s stock worth $777,000 after buying an additional 82 shares in the last quarter. Apella Capital LLC acquired a new stake in McKesson in the 1st quarter worth about $205,000. AEGON ASSET MANAGEMENT UK Plc raised its stake in McKesson by 1,042.1% in the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 434 shares of the company’s stock worth $292,000 after purchasing an additional 396 shares in the last quarter. Romano Brothers AND Company bought a new stake in McKesson in the 1st quarter valued at about $226,000. Finally, Whipplewood Advisors LLC grew its position in shares of McKesson by 84.7% during the 1st quarter. Whipplewood Advisors LLC now owns 807 shares of the company’s stock worth $543,000 after purchasing an additional 370 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 341 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 2,800 shares of the company’s stock, valued at approximately $2,010,148. This trade represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,747 shares of company stock valued at $9,852,587. Company insiders own 0.11% of the company’s stock.

McKesson Stock Down 0.7%

Shares of NYSE MCK opened at $709.94 on Thursday. The firm has a market cap of $88.82 billion, a PE ratio of 32.51, a P/E/G ratio of 1.29 and a beta of 0.53. The company’s fifty day simple moving average is $698.17 and its 200 day simple moving average is $639.78. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.18 EPS. On average, equities analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson’s payout ratio is currently 10.99%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. UBS Group raised their price target on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Wells Fargo & Company upped their price objective on shares of McKesson from $691.00 to $766.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $692.46.

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.