ForthRight Wealth Management LLC Has $479,000 Stock Position in McKesson Corporation $MCK

ForthRight Wealth Management LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 18.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 653 shares of the company’s stock after buying an additional 102 shares during the period. ForthRight Wealth Management LLC’s holdings in McKesson were worth $479,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in McKesson by 54.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock worth $3,056,000 after buying an additional 1,592 shares during the period. Dynamic Advisor Solutions LLC grew its stake in shares of McKesson by 16.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after acquiring an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock valued at $15,501,000 after purchasing an additional 3,659 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after purchasing an additional 68,294 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of McKesson by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock valued at $123,332,000 after purchasing an additional 7,556 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MCK. Mizuho lifted their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Finally, Bank of America boosted their target price on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $834.54.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,189 shares of company stock valued at $16,722,190. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

MCK stock opened at $791.40 on Thursday. The company has a fifty day moving average price of $711.83 and a two-hundred day moving average price of $708.47. McKesson Corporation has a one year low of $492.39 and a one year high of $792.34. The stock has a market cap of $98.43 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same period last year, the firm earned $7.88 earnings per share. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

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.