McKesson Corporation (NYSE:MCK) Shares Purchased by Measured Wealth Private Client Group LLC

Measured Wealth Private Client Group LLC lifted its position in McKesson Corporation (NYSE:MCK) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 701 shares of the company’s stock after purchasing an additional 37 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in McKesson were worth $472,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new stake in McKesson during the 4th quarter worth approximately $26,000. Bank of Jackson Hole Trust lifted its position in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the period. Cornerstone Planning Group LLC lifted its position in McKesson by 1,840.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the company’s stock worth $67,000 after acquiring an additional 92 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in McKesson during the 4th quarter worth approximately $76,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE MCK opened at $667.14 on Friday. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The company has a market capitalization of $82.98 billion, a P/E ratio of 26.60, a PEG ratio of 1.34 and a beta of 0.50. The business has a 50 day moving average price of $714.12 and a 200 day moving average price of $679.09.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. During the same period in the previous year, the business earned $7.88 earnings per share. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is 10.99%.

Analyst Ratings Changes

A number of analysts have weighed in on MCK shares. Bank of America increased their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. UBS Group increased their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an “equal weight” rating in a research report on Tuesday, June 3rd. Evercore ISI increased their price objective on McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Finally, Cowen reissued a “buy” rating on shares of McKesson in a report on Thursday. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $718.73.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 19,371 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer directly owned 27,872 shares of the company’s stock, valued at $19,735,884.48. This trade represents a 41.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president directly owned 2,621 shares of the company’s stock, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,488 shares of company stock worth $37,242,862 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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.