McKesson Corporation (NYSE:MCK) Shares Purchased by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC raised its stake in McKesson Corporation (NYSE:MCK) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 778 shares of the company’s stock after purchasing an additional 111 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in McKesson were worth $524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new position in McKesson during the 4th quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $28,000. Atala Financial Inc purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $34,000. Graney & King LLC acquired a new position in shares of McKesson during the fourth quarter worth $38,000. Finally, Kestra Investment Management LLC purchased a new position in shares of McKesson in the fourth quarter valued at $55,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 19,370 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the sale, the chief executive officer now directly owns 51,243 shares of the company’s stock, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MCK shares. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Morgan Stanley raised their price objective on McKesson from $745.00 to $770.00 and gave the company an “overweight” rating in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an “equal weight” rating in a research note on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $694.38.

McKesson Price Performance

Shares of NYSE MCK opened at $729.28 on Thursday. The firm has a market capitalization of $91.24 billion, a PE ratio of 28.23, a P/E/G ratio of 1.44 and a beta of 0.49. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $732.99. The business’s fifty day moving average price is $706.79 and its two-hundred day moving average price is $646.38.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the company earned $6.18 EPS. Equities research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is currently 10.99%.

About McKesson

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.