OMNI 360 Wealth Inc. Increases Stock Holdings in McKesson Corporation $MCK

OMNI 360 Wealth Inc. increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493 shares of the company’s stock after buying an additional 40 shares during the period. OMNI 360 Wealth Inc.’s holdings in McKesson were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCK. GAMMA Investing LLC lifted its position in shares of McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Nuveen LLC purchased a new position in shares of McKesson during the 1st quarter valued at approximately $475,235,000. Wellington Management Group LLP lifted its position in shares of McKesson by 4,559.6% during the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock valued at $287,840,000 after buying an additional 418,524 shares in the last quarter. Boston Partners raised its stake in McKesson by 33.3% in the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in McKesson by 92.3% in the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock valued at $437,760,000 after purchasing an additional 312,473 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock valued at $30,438,602 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Cowen reissued a “buy” rating on shares of McKesson in a research note on Thursday, August 7th. Evercore ISI increased their price objective on McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Morgan Stanley reissued an “overweight” rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Wall Street Zen downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 13th. Finally, Wells Fargo & Company raised their target price on McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $725.10.

McKesson Trading Down 1.2%

Shares of NYSE:MCK opened at $711.32 on Friday. The business has a 50-day moving average price of $697.81 and a 200 day moving average price of $694.47. The company has a market capitalization of $88.48 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.43 and a beta of 0.51. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89.

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

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio is 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.