Warren Street Wealth Advisors LLC Buys Shares of 304 McKesson Corporation $MCK

Warren Street Wealth Advisors LLC bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 304 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Bank of Jackson Hole Trust boosted its holdings in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after buying an additional 41 shares in the last quarter. Saudi Central Bank bought a new stake in shares of McKesson in the 1st quarter valued at about $34,000. Flaharty Asset Management LLC bought a new stake in shares of McKesson in the 1st quarter valued at about $39,000. Finally, Pandora Wealth Inc. bought a new stake in shares of McKesson in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. UBS Group lifted their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday. Citigroup lifted their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Mizuho lifted their target price on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $829.08.

McKesson Trading Down 0.9%

Shares of NYSE MCK opened at $765.57 on Thursday. McKesson Corporation has a 12 month low of $480.39 and a 12 month high of $776.14. The company has a 50 day simple moving average of $701.10 and a two-hundred day simple moving average of $701.71. The stock has a market cap of $95.22 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.39 and a beta of 0.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS 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 business had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the previous year, the firm posted $7.88 earnings per share. The business’s revenue was up 23.4% on a year-over-year basis. Analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

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

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,560 shares of company stock valued at $30,438,602. Company insiders own 0.08% of the company’s stock.

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.