McKesson Corporation $MCK Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its position in shares of McKesson Corporation (NYSE:MCK) by 114.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,933 shares of the company’s stock after acquiring an additional 1,030 shares during the quarter. Miracle Mile Advisors LLC’s holdings in McKesson were worth $1,493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Solstein Capital LLC raised its holdings in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the period. State of Wyoming purchased a new stake in shares of McKesson in the second quarter valued at approximately $29,000. GFG Capital LLC acquired a new position in shares of McKesson during the 2nd quarter worth approximately $30,000. Abound Wealth Management lifted its position in shares of McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after buying an additional 24 shares in the last quarter. Finally, Delos Wealth Advisors LLC acquired a new stake in McKesson in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MCK shares. Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a research report on Monday. UBS Group boosted their target price on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. raised their price target on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Bank of America increased their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $892.86.

McKesson Price Performance

MCK opened at $823.28 on Friday. The firm has a market capitalization of $101.62 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38. The company’s 50 day simple moving average is $833.68 and its two-hundred day simple moving average is $759.06. McKesson Corporation has a 1-year low of $568.23 and a 1-year high of $895.58.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same quarter in the prior year, the firm posted $7.07 earnings per share. McKesson’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s payout ratio is presently 10.21%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.