Soltis Investment Advisors LLC Purchases 553 Shares of McKesson Corporation $MCK

Soltis Investment Advisors LLC grew its position in McKesson Corporation (NYSE:MCK) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,659 shares of the company’s stock after acquiring an additional 553 shares during the quarter. Soltis Investment Advisors LLC’s holdings in McKesson were worth $6,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB increased its position in shares of McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC boosted its holdings in McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after acquiring an additional 14 shares during the period. SteelPeak Wealth LLC boosted its holdings in McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after acquiring an additional 15 shares during the period. Cypress Wealth Services LLC boosted its holdings in McKesson by 3.7% during the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after acquiring an additional 15 shares during the period. Finally, HBK Sorce Advisory LLC boosted its holdings in McKesson by 1.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after acquiring an additional 16 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 24,189 shares of company stock worth $16,722,190 in the last quarter. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Up 0.6%

Shares of MCK opened at $846.51 on Thursday. McKesson Corporation has a 52 week low of $530.39 and a 52 week high of $863.32. The company has a market capitalization of $105.29 billion, a price-to-earnings ratio of 33.75, a PEG ratio of 1.46 and a beta of 0.52. The stock’s 50-day moving average price is $750.73 and its 200-day moving average price is $721.95.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the prior year, the business earned $7.07 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 13.08%.

Analysts Set New Price Targets

MCK has been the subject of several research reports. Citigroup upped their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley upped their price objective on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Bank of America upped their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company upped their target price on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $839.15.

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.