McKesson Co. (NYSE:MCK) Shares Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its stake in shares of McKesson Co. (NYSE:MCK) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 872 shares of the company’s stock after buying an additional 26 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in McKesson were worth $587,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in McKesson during the 4th quarter valued at $26,000. Millstone Evans Group LLC acquired a new stake in shares of McKesson during the fourth quarter worth $28,000. Atala Financial Inc acquired a new stake in shares of McKesson during the fourth quarter worth $34,000. Graney & King LLC acquired a new stake in shares of McKesson during the fourth quarter worth $38,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of McKesson during the fourth quarter worth $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $721.27 on Tuesday. The business’s 50-day moving average is $696.36 and its two-hundred day moving average is $638.76. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00. The firm has a market capitalization of $90.24 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period last year, the company posted $6.18 earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. Equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio is currently 10.99%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MCK. Wall Street Zen upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday. Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Bank of America raised their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Morgan Stanley raised their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Finally, Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now directly owns 1,972 shares of the company’s stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 341 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the sale, the executive vice president now directly owns 2,800 shares of the company’s stock, valued at approximately $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,747 shares of company stock valued at $9,852,587 over the last three months. 0.11% of the stock is owned by insiders.

About McKesson

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.