LVW Advisors LLC Purchases 148 Shares of McKesson Corporation $MCK

LVW Advisors LLC grew its position in shares of McKesson Corporation (NYSE:MCK) by 28.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 676 shares of the company’s stock after purchasing an additional 148 shares during the quarter. LVW Advisors LLC’s holdings in McKesson were worth $495,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank of Jackson Hole Trust raised its stake in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Saudi Central Bank purchased a new position in shares of McKesson during the first quarter worth approximately $34,000. Flaharty Asset Management LLC purchased a new position in shares of McKesson during the first quarter worth approximately $39,000. Finally, Pandora Wealth Inc. bought a new position in McKesson during the 1st quarter worth approximately $40,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on MCK shares. Evercore ISI raised their price target on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Wednesday. Bank of America raised their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group raised their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley raised their price target on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $829.08.

McKesson Stock Performance

Shares of MCK stock opened at $760.82 on Friday. The firm has a market cap of $94.63 billion, a P/E ratio of 30.34, a P/E/G ratio of 1.36 and a beta of 0.51. McKesson Corporation has a fifty-two week low of $479.15 and a fifty-two week high of $770.00. The business’s 50 day moving average price is $697.79 and its 200-day moving average price is $699.59.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The business 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%.McKesson’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.88 earnings per share. As a group, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 2nd. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is 13.08%.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is currently owned by company insiders.

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.