Leo Wealth LLC Buys Shares of 300 McKesson Corporation $MCK

Leo Wealth LLC bought a new stake in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 300 shares of the company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in shares of McKesson by 54.0% during the first 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 in the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after buying an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock worth $15,501,000 after buying an additional 3,659 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after buying an additional 68,294 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock worth $123,332,000 after buying an additional 7,556 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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 owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer owned 657 shares of the company’s stock, 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 have sold 24,189 shares of company stock valued at $16,722,190 in the last 90 days. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.8%

MCK stock opened at $763.89 on Friday. The company has a market capitalization of $95.01 billion, a P/E ratio of 30.46, a PEG ratio of 1.37 and a beta of 0.52. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $776.14. The business has a 50 day simple moving average of $707.48 and a 200-day simple moving average of $706.09.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company posted $7.88 earnings per share. Research analysts predict 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. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. Bank of America boosted their price objective on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. TD Cowen upped their price target on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. upped their price target on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Evercore ISI upped their price target on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, Mizuho upped their price target on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $829.08.

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.