Larson Financial Group LLC Buys 726 Shares of McKesson Co. (NYSE:MCK)

Larson Financial Group LLC increased its holdings in McKesson Co. (NYSE:MCKFree Report) by 206.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,077 shares of the company’s stock after buying an additional 726 shares during the period. Larson Financial Group LLC’s holdings in McKesson were worth $578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Intrust Bank NA purchased a new stake in McKesson during the fourth quarter valued at about $206,000. Raymond James & Associates increased its holdings in McKesson by 6.1% during the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after buying an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of McKesson by 6.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares during the period. Heritage Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $1,538,000. Finally, Insight Wealth Strategies LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $1,813,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Evercore ISI upped their price target on shares of McKesson from $600.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday. Robert W. Baird upped their price target on shares of McKesson from $679.00 to $694.00 and gave the company an “outperform” rating in a research note on Tuesday. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, TD Cowen increased their target price on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $596.00.

Get Our Latest Stock Report on McKesson

McKesson Stock Up 0.0 %

MCK stock traded up $0.01 during trading on Wednesday, hitting $586.82. The company had a trading volume of 384,891 shares, compared to its average volume of 699,683. The firm has a market capitalization of $76.25 billion, a P/E ratio of 26.22, a PEG ratio of 1.38 and a beta of 0.45. McKesson Co. has a 52-week low of $395.30 and a 52-week high of $612.17. The company has a 50 day simple moving average of $572.90 and a 200-day simple moving average of $532.34.

McKesson (NYSE:MCKGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter in the previous year, the company earned $7.19 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts forecast that McKesson Co. will post 31.53 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, June 3rd. McKesson’s payout ratio is 11.08%.

Insiders Place Their Bets

In other McKesson news, CFO Britt J. Vitalone sold 894 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $498,315.60. Following the transaction, the chief financial officer now directly owns 16,455 shares in the company, valued at approximately $9,172,017. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Britt J. Vitalone sold 894 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $498,315.60. Following the completion of the sale, the chief financial officer now owns 16,455 shares in the company, valued at $9,172,017. The disclosure for this sale can be found here. Insiders have sold a total of 29,567 shares of company stock worth $16,691,841 in the last three months. Corporate insiders own 0.11% of the company’s stock.

McKesson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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