One Wealth Advisors LLC bought a new position in shares of McKesson Corporation (NYSE:MCK – Free Report) in the second quarter, HoldingsChannel reports. The firm bought 1,977 shares of the company’s stock, valued at approximately $1,494,000.
Several other hedge funds have also recently bought and sold shares of MCK. Horizon Investments LLC raised its stake in shares of McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after purchasing an additional 4,828 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of McKesson by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company’s stock worth $25,860,000 after buying an additional 4,964 shares during the period. Concurrent Investment Advisors LLC boosted its position in shares of McKesson by 62.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock worth $2,590,000 after buying an additional 1,219 shares during the period. CWM LLC grew its holdings in shares of McKesson by 49.8% during the fourth quarter. CWM LLC now owns 25,517 shares of the company’s stock worth $20,932,000 after buying an additional 8,478 shares in the last quarter. Finally, Walter Public Investments Inc. bought a new position in shares of McKesson during the fourth quarter worth about $6,538,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.
McKesson Trading Up 1.4%
Shares of MCK opened at $868.72 on Friday. The company has a market cap of $101.28 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.71 and a beta of 0.30. McKesson Corporation has a 1-year low of $667.50 and a 1-year high of $999.00. The company’s fifty day simple moving average is $813.45 and its 200 day simple moving average is $842.81.
McKesson Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is currently 8.78%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on MCK shares. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. TD Cowen increased their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. William Blair assumed coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Barclays cut their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Finally, UBS Group lifted their target price on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $977.00.
Check Out Our Latest Stock Report on McKesson
Insider Buying and Selling
In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,049 shares of company stock worth $22,530,626 in the last 90 days. 0.06% of the stock is owned by corporate insiders.
About McKesson
McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.
The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.
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