McKesson Co. (NYSE:MCK) Shares Bought by Transform Wealth LLC

Transform Wealth LLC lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,826 shares of the company’s stock after buying an additional 513 shares during the period. Transform Wealth LLC’s holdings in McKesson were worth $10,656,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sachetta LLC purchased a new position in shares of McKesson during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $31,000. Richardson Financial Services Inc. acquired a new position in shares of McKesson during the 4th quarter valued at $31,000. Carolinas Wealth Consulting LLC lifted its holdings in shares of McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in McKesson during the 4th quarter worth $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. UBS Group boosted their target price on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Bank of America boosted their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley lifted their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company lifted their price target on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $590.47.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the sale, the executive vice president now directly owns 2,022 shares in the company, valued at approximately $1,183,941.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Maria Martinez sold 483 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 600 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the sale, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Insiders have sold 25,814 shares of company stock worth $14,511,649 in the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

Shares of NYSE:MCK traded down $3.77 during trading on Friday, reaching $589.43. The company had a trading volume of 236,843 shares, compared to its average volume of 703,347. The firm’s fifty day moving average is $563.21 and its 200 day moving average is $523.26. The firm has a market capitalization of $76.59 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $612.17.

McKesson (NYSE:MCK) last issued its quarterly 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 company had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $7.19 earnings per share. Equities analysts predict that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced 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 of this dividend is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s 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.