CreativeOne Wealth LLC Grows Stock Position in McKesson Co. (NYSE:MCK)

CreativeOne Wealth LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 49.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,119 shares of the company’s stock after buying an additional 372 shares during the period. CreativeOne Wealth LLC’s holdings in McKesson were worth $518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Sachetta LLC purchased a new position in shares of McKesson in the fourth quarter worth about $27,000. BKM Wealth Management LLC bought a new stake in McKesson during the 4th quarter valued at $31,000. WASHINGTON TRUST Co raised its holdings in McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares during the period. Private Wealth Management Group LLC purchased a new stake in shares of McKesson during the fourth quarter worth $60,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of McKesson in the third quarter worth $61,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders sold a total of 4,080 shares of company stock worth $2,160,489 in the last three months. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MCK. Wells Fargo & Company boosted their price objective on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Argus lifted their price objective on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Mizuho increased their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Morgan Stanley lifted their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $571.47.

McKesson Price Performance

NYSE MCK opened at $557.32 on Thursday. McKesson Co. has a 1 year low of $373.28 and a 1 year high of $566.16. The stock has a market capitalization of $72.45 billion, a PE ratio of 24.90, a PEG ratio of 1.29 and a beta of 0.45. The business’s 50-day moving average is $537.53 and its 200 day moving average is $501.48.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the prior year, the firm earned $7.19 EPS. McKesson’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson Co. will post 31.57 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

McKesson 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.