ForthRight Wealth Management LLC Purchases 102 Shares of McKesson Corporation $MCK

ForthRight Wealth Management LLC lifted its position in McKesson Corporation (NYSE:MCKFree Report) by 18.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 653 shares of the company’s stock after purchasing an additional 102 shares during the quarter. ForthRight Wealth Management LLC’s holdings in McKesson were worth $479,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. GFG Capital LLC bought a new stake in McKesson during the 2nd quarter worth about $30,000. CBIZ Investment Advisory Services LLC grew its holdings in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Bank of Jackson Hole Trust grew its holdings in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares during the last quarter. Saudi Central Bank bought a new stake in McKesson during the 1st quarter worth about $34,000. Finally, Flaharty Asset Management LLC bought a new stake in McKesson during the 1st quarter worth about $39,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MCK shares. UBS Group increased their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley increased their price objective on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Wells Fargo & Company increased their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Finally, Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $834.54.

Get Our Latest Analysis on McKesson

McKesson Trading Up 1.2%

McKesson stock opened at $791.40 on Thursday. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $792.34. The company has a market cap of $98.43 billion, a PE ratio of 31.55, a PEG ratio of 1.41 and a beta of 0.52. The company’s 50-day moving average is $711.83 and its two-hundred day moving average is $708.47.

McKesson (NYSE:MCKGet Free Report) last released its earnings results 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). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the previous year, the company posted $7.88 earnings per share. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. Research analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

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

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

McKesson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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