Stratos Wealth Partners LTD. Has $1.54 Million Stock Holdings in McKesson Corporation $MCK

Stratos Wealth Partners LTD. increased its position in McKesson Corporation (NYSE:MCK) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,105 shares of the company’s stock after buying an additional 85 shares during the period. Stratos Wealth Partners LTD.’s holdings in McKesson were worth $1,543,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MCK. MassMutual Private Wealth & Trust FSB lifted its position in McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after acquiring an additional 14 shares in the last quarter. Palisade Asset Management LLC lifted its position in McKesson by 2.1% in the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock valued at $481,000 after acquiring an additional 15 shares in the last quarter. SteelPeak Wealth LLC lifted its position in McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after acquiring an additional 15 shares in the last quarter. Cypress Wealth Services LLC lifted its position in McKesson by 3.7% in the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after acquiring an additional 15 shares in the last quarter. Finally, Keystone Financial Services lifted its position in McKesson by 1.2% in the 1st quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock valued at $945,000 after acquiring an additional 17 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 0.3%

Shares of NYSE MCK opened at $788.38 on Tuesday. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $793.97. The stock’s 50 day moving average price is $718.77 and its 200-day moving average price is $710.76. The company has a market capitalization of $98.06 billion, a PE ratio of 31.43, a PEG ratio of 1.42 and a beta of 0.52.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is presently 13.08%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Wells Fargo & Company raised their price target on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Mizuho raised their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $834.54.

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.