304 Shares in McKesson Corporation $MCK Bought by Warren Street Wealth Advisors LLC

Warren Street Wealth Advisors LLC purchased a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 304 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Bank of Jackson Hole Trust boosted its stake 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 purchasing an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake 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 purchasing an additional 41 shares during the last quarter. Saudi Central Bank acquired a new stake in McKesson during the 1st quarter worth $34,000. Flaharty Asset Management LLC acquired a new stake in McKesson during the 1st quarter worth $39,000. Finally, Pandora Wealth Inc. acquired a new stake in McKesson during the 1st quarter worth $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Evercore ISI boosted their price target on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Morgan Stanley boosted their price target on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Finally, Leerink Partners upped their target price on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $829.08.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction that occurred 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 in the company, valued at $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. Insiders sold 43,560 shares of company stock worth $30,438,602 over the last quarter. 0.08% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $765.57 on Thursday. The firm has a market capitalization of $95.22 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 1.39 and a beta of 0.51. The firm’s 50-day moving average is $701.10 and its two-hundred day moving average is $701.71. McKesson Corporation has a 1 year low of $480.39 and a 1 year high of $776.14.

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

McKesson Increases Dividend

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

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.