Stratos Wealth Partners LTD. Has $1.54 Million Holdings in McKesson Corporation $MCK

Stratos Wealth Partners LTD. grew its stake in shares of McKesson Corporation (NYSE:MCK) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,105 shares of the company’s stock after acquiring an additional 85 shares during the period. Stratos Wealth Partners LTD.’s holdings in McKesson were worth $1,543,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB lifted its position in McKesson by 1.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after acquiring an additional 14 shares during the last quarter. Palisade Asset Management LLC increased its holdings in shares of McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after purchasing an additional 15 shares during the period. SteelPeak Wealth LLC increased its holdings in shares of McKesson by 0.5% during the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after purchasing an additional 15 shares during the period. Cypress Wealth Services LLC increased its holdings in shares of McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after purchasing an additional 15 shares during the period. Finally, Keystone Financial Services increased its holdings in shares of McKesson by 1.2% during the first quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock worth $945,000 after purchasing an additional 17 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 0.3%

Shares of NYSE:MCK opened at $788.38 on Tuesday. The firm has a market cap of $98.06 billion, a P/E ratio of 31.43, a P/E/G ratio of 1.42 and a beta of 0.52. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $793.97. The business has a fifty day simple moving average of $718.77 and a 200 day simple moving average of $710.76.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion for 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%.The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.88 earnings per share. As a group, equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

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

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Evercore ISI upped their target price on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. TD Cowen upped their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Jefferies Financial Group upped their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $834.54.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction dated Friday, August 22nd. The stock was 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 directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by corporate insiders.

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.