180 Wealth Advisors LLC Invests $775,000 in McKesson Co. (NYSE:MCK)

180 Wealth Advisors LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,443 shares of the company’s stock, valued at approximately $775,000.

Several other hedge funds have also recently bought and sold shares of MCK. Intrust Bank NA acquired a new stake in McKesson in the fourth quarter valued at approximately $206,000. Raymond James & Associates raised its stake in shares of McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after acquiring an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in McKesson by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares during the period. Heritage Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter valued at approximately $1,538,000. Finally, Insight Wealth Strategies LLC acquired a new stake in shares of McKesson in the fourth quarter worth $1,813,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MCK. UBS Group raised their target price on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Bank of America lifted their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays increased their price objective on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Argus boosted their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $590.47.

Insider Buying and Selling

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

McKesson Stock Down 1.1 %

MCK stock traded down $6.36 during midday trading on Thursday, reaching $593.20. 768,630 shares of the company’s stock traded hands, compared to its average volume of 707,215. The company has a 50-day simple moving average of $563.21 and a two-hundred day simple moving average of $523.26. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $612.17. The company has a market cap of $77.08 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.41 and a beta of 0.47.

McKesson (NYSE:MCK) last announced its earnings results 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). The business had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $7.19 earnings per share. Equities research analysts forecast that McKesson Co. will post 31.54 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.08%.

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.