Insight Wealth Strategies LLC Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Insight Wealth Strategies LLC raised its position in shares of McKesson Co. (NYSE:MCKFree Report) by 3.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,047 shares of the company’s stock after purchasing an additional 130 shares during the period. Insight Wealth Strategies LLC’s holdings in McKesson were worth $2,173,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of McKesson in the fourth quarter worth about $1,024,140,000. International Assets Investment Management LLC increased its holdings in shares of McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after buying an additional 749,504 shares during the period. TD Asset Management Inc increased its holdings in shares of McKesson by 202.8% in the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after buying an additional 403,312 shares during the period. Morgan Stanley grew its stake in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of McKesson by 92.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after purchasing an additional 272,266 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Wells Fargo & Company raised their target price on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. UBS Group lifted their price objective on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Morgan Stanley lifted their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, TD Cowen lifted their price objective on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $571.47.

Read Our Latest Stock Analysis on MCK

McKesson Stock Performance

Shares of MCK traded up $5.48 during mid-day trading on Wednesday, reaching $602.93. The company had a trading volume of 462,424 shares, compared to its average volume of 659,943. The firm has a 50-day moving average price of $553.85 and a 200 day moving average price of $517.58. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $604.15. The company has a market capitalization of $78.37 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47.

McKesson (NYSE:MCKGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the previous year, the firm earned $7.19 earnings per share. McKesson’s revenue was up 10.8% on a year-over-year basis. As a group, research analysts forecast that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 0.41%. McKesson’s payout ratio is currently 11.08%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 704 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the sale, the executive vice president now owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The disclosure for this sale can be found here. Insiders sold a total of 25,814 shares of company stock worth $14,511,649 in the last three months. Insiders own 0.21% of the company’s stock.

McKesson Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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