1,138 Shares in McKesson Corporation $MCK Acquired by BAM Wealth Management LLC

BAM Wealth Management LLC acquired a new stake in shares of McKesson Corporation (NYSE:MCK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,138 shares of the company’s stock, valued at approximately $879,000.

A number of other large investors have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the last quarter. Caxton Associates LLP bought a new position in McKesson during the first quarter worth about $233,000. Sivia Capital Partners LLC increased its stake in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares in the last quarter. Mather Group LLC. raised its position in shares of McKesson by 7.4% in the second quarter. Mather Group LLC. now owns 1,047 shares of the company’s stock valued at $767,000 after purchasing an additional 72 shares during the period. Finally, Kerntke Otto McGlone Wealth Management Group bought a new stake in shares of McKesson in the second quarter valued at approximately $210,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

McKesson stock opened at $819.69 on Friday. McKesson Corporation has a fifty-two week low of $570.51 and a fifty-two week high of $895.58. The stock has a market cap of $101.17 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 1.34 and a beta of 0.41. The firm’s fifty day moving average price is $831.03 and its 200-day moving average price is $769.75.

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

McKesson Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Evercore ISI restated an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research report on Thursday, November 6th. JPMorgan Chase & Co. raised their price target on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. TD Cowen reiterated a “buy” rating on shares of McKesson in a research report on Monday, December 22nd. Finally, Robert W. Baird set a $968.00 price objective on McKesson in a report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $895.79.

Insider Buying and Selling at McKesson

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