300 Shares in McKesson Corporation (NYSE:MCK) Bought by Burling Wealth Partners LLC

Burling Wealth Partners LLC purchased a new stake in McKesson Corporation (NYSE:MCK) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 300 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new stake in shares of McKesson in the 4th quarter valued at $26,000. Millstone Evans Group LLC acquired a new position in McKesson in the fourth quarter valued at $28,000. Graney & King LLC acquired a new position in McKesson in the fourth quarter valued at $38,000. CoreFirst Bank & Trust acquired a new position in McKesson in the fourth quarter valued at $67,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of McKesson during the fourth quarter worth about $76,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCK has been the subject of several analyst reports. Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Evercore ISI lifted their price target on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Wall Street Zen cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 13th. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Bank of America lifted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $710.17.

McKesson Price Performance

Shares of NYSE:MCK opened at $710.87 on Friday. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The company has a 50 day moving average of $716.12 and a 200-day moving average of $665.92. The stock has a market cap of $88.94 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.43 and a beta of 0.48.

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

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the sale, the executive vice president directly owned 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the transaction, the executive vice president owned 2,621 shares of the company’s stock, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,488 shares of company stock worth $37,242,862. 0.08% of the stock is owned by company insiders.

McKesson Company 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.