Ritholtz Wealth Management Acquires 164 Shares of McKesson Co. (NYSE:MCK)

Ritholtz Wealth Management lifted its holdings in McKesson Co. (NYSE:MCK) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,200 shares of the company’s stock after acquiring an additional 164 shares during the period. Ritholtz Wealth Management’s holdings in McKesson were worth $8,883,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter worth about $26,000. Millstone Evans Group LLC bought a new position in shares of McKesson in the fourth quarter worth about $28,000. Atala Financial Inc bought a new position in shares of McKesson in the fourth quarter worth about $34,000. Graney & King LLC bought a new position in shares of McKesson in the fourth quarter worth about $38,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of McKesson in the fourth quarter worth about $44,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CFO Britt J. Vitalone sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the sale, the chief financial officer now directly owns 14,760 shares of the company’s stock, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the sale, the chief executive officer now directly owns 51,243 shares of the company’s stock, valued at $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock valued at $23,526,451 in the last ninety days. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $727.15 on Friday. The firm has a market capitalization of $90.98 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $732.99. The business has a 50 day simple moving average of $703.28 and a 200-day simple moving average of $644.50.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the company earned $6.18 EPS. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson’s payout ratio is 10.99%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MCK shares. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Wall Street Zen lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an “equal weight” rating in a research note on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $694.38.

McKesson Company 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.