McKesson Co. (NYSE:MCK) Shares Purchased by Pines Wealth Management LLC

Pines Wealth Management LLC raised its stake in shares of McKesson Co. (NYSE:MCK) by 1.9% during the first quarter, HoldingsChannel reports. The fund owned 1,878 shares of the company’s stock after acquiring an additional 35 shares during the quarter. Pines Wealth Management LLC’s holdings in McKesson were worth $1,226,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC bought a new position in shares of McKesson during the fourth quarter worth about $26,000. Millstone Evans Group LLC bought a new position in McKesson during the 4th quarter worth approximately $28,000. Atala Financial Inc acquired a new position in shares of McKesson in the 4th quarter worth approximately $34,000. Graney & King LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $38,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In related news, CFO Britt J. Vitalone sold 6,336 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president now owns 2,544 shares of the company’s stock, valued at $1,811,785.92. This trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,747 shares of company stock valued at $9,852,587. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCK. Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a report on Friday, May 9th. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Wall Street Zen raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. Finally, UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $692.46.

McKesson Price Performance

MCK opened at $712.99 on Friday. The stock’s 50 day moving average price is $699.69 and its 200 day moving average price is $641.11. The stock has a market cap of $89.20 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company earned $6.18 earnings per share. Equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s dividend payout ratio (DPR) is 10.99%.

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.