Ashton Thomas Private Wealth LLC Reduces Position in McKesson Co. (NYSE:MCK)

Ashton Thomas Private Wealth LLC reduced its position in shares of McKesson Co. (NYSE:MCKFree Report) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,860 shares of the company’s stock after selling 950 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in McKesson were worth $2,072,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sachetta LLC purchased a new position in shares of McKesson in the 4th quarter valued at about $27,000. Register Financial Advisors LLC acquired a new stake in McKesson during the first quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. Richardson Financial Services Inc. acquired a new position in shares of McKesson in the 4th quarter valued at $31,000. Finally, Carolinas Wealth Consulting LLC boosted its position in shares of McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $587.76 on Friday. The firm has a market capitalization of $76.37 billion, a PE ratio of 26.26, a P/E/G ratio of 1.36 and a beta of 0.45. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $612.17. The business has a 50-day moving average of $570.84 and a two-hundred day moving average of $529.29.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business 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 business posted $7.19 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts anticipate that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, June 3rd. McKesson’s payout ratio is 11.08%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. Bank of America boosted their price objective on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI upped their target price on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Citigroup lifted their price objective on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Wells Fargo & Company increased their price objective on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note 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. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $590.47.

View Our Latest Report on McKesson

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 600 shares of the 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 completion of the sale, the executive vice president now owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the sale, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas L. Rodgers sold 789 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $439,788.60. Following the completion of the transaction, the executive vice president now owns 7,909 shares in the company, valued at approximately $4,408,476.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,814 shares of company stock worth $14,511,649. 0.11% of the stock is currently owned by corporate insiders.

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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