Thrive Wealth Management LLC Buys 22 Shares of McKesson Co. (NYSE:MCK)

Thrive Wealth Management LLC grew its stake in McKesson Co. (NYSE:MCK) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,482 shares of the company’s stock after purchasing an additional 22 shares during the period. Thrive Wealth Management LLC’s holdings in McKesson were worth $997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock valued at $1,683,000 after buying an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares in the last quarter. Hemington Wealth Management lifted its stake in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after purchasing an additional 18 shares during the period. First Western Trust Bank lifted its stake in McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after purchasing an additional 18 shares during the period. Finally, Moody National Bank Trust Division boosted its holdings in McKesson by 0.9% during the first quarter. Moody National Bank Trust Division now owns 2,003 shares of the company’s stock valued at $1,348,000 after purchasing an additional 18 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares of the company’s stock, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the transaction, the chief financial officer now owns 14,760 shares of the company’s stock, valued at $10,587,348. The trade was a 30.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,747 shares of company stock valued at $9,852,587 over the last three months. 0.11% of the stock is currently owned by corporate insiders.

McKesson Trading Down 0.7%

Shares of NYSE:MCK opened at $709.94 on Thursday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The stock has a market capitalization of $88.82 billion, a P/E ratio of 32.51, a P/E/G ratio of 1.29 and a beta of 0.53. The business has a 50-day moving average price of $698.17 and a two-hundred day moving average price of $639.78.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same period in the previous year, the firm posted $6.18 earnings per share. McKesson’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, equities analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson’s dividend payout ratio is presently 10.99%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several analyst reports. Bank of America raised their target price on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Wells Fargo & Company lifted their price objective on McKesson from $691.00 to $766.00 and gave the company an “equal weight” rating in a report on Tuesday. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. UBS Group increased their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $692.46.

About McKesson

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.