Barlow Wealth Partners Inc. Invests $12.64 Million in McKesson Corporation $MCK

Barlow Wealth Partners Inc. purchased a new stake in shares of McKesson Corporation (NYSE:MCK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,887 shares of the company’s stock, valued at approximately $12,640,000.

Several other institutional investors have also added to or reduced their stakes in the company. Solstein Capital LLC increased its position in shares of McKesson by 171.4% in 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 during the period. State of Wyoming bought a new stake in shares of McKesson in the second quarter worth about $29,000. GFG Capital LLC purchased a new position in McKesson during the 2nd quarter valued at about $30,000. Abound Wealth Management raised its position in 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 during the last quarter. Finally, Delos Wealth Advisors LLC purchased a new stake in McKesson in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. Wells Fargo & Company boosted their price objective on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Robert W. Baird set a $968.00 target price on shares of McKesson in a research report on Wednesday, January 14th. Zacks Research lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, TD Cowen reissued a “buy” rating on shares of McKesson in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $895.79.

McKesson Price Performance

Shares of McKesson stock opened at $825.32 on Tuesday. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58. The firm has a market cap of $101.87 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 1.35 and a beta of 0.41. The company has a 50-day moving average of $830.45 and a 200 day moving average of $771.16.

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

McKesson Dividend Announcement

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

Insider Buying and Selling

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

About McKesson

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.