GWN Securities Inc. Purchases Shares of 3,570 McKesson Corporation $MCK

GWN Securities Inc. acquired a new stake in shares of McKesson Corporation (NYSE:MCK) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,570 shares of the company’s stock, valued at approximately $2,758,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Solstein Capital LLC raised its position in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares in the last quarter. State of Wyoming purchased a new stake in McKesson in the 2nd quarter worth approximately $29,000. GFG Capital LLC acquired a new stake in shares of McKesson during the 2nd quarter worth approximately $30,000. Delos Wealth Advisors LLC purchased a new position in shares of McKesson during the 2nd quarter valued at approximately $35,000. Finally, Abound Wealth Management increased its holdings in shares of McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,851,096.24. The trade was a 10.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Performance

NYSE:MCK opened at $823.59 on Wednesday. McKesson Corporation has a one year low of $570.51 and a one year high of $895.58. The stock has a market cap of $101.66 billion, a PE ratio of 25.63, a P/E/G ratio of 1.36 and a beta of 0.41. The stock has a 50 day moving average price of $834.20 and a 200 day moving average price of $764.38.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. During the same quarter in the previous year, the company posted $7.07 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MCK shares. TD Cowen raised their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Evercore ISI reissued an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research note on Thursday, November 6th. Barclays assumed coverage on McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 target price on the stock. Jefferies Financial Group lifted their price target on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Wells Fargo & Company increased their price target on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $892.86.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.