Wolf Group Capital Advisors Purchases New Shares in McKesson Corporation (NYSE:MCK)

Wolf Group Capital Advisors purchased a new stake in McKesson Corporation (NYSE:MCK) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,453 shares of the company’s stock, valued at approximately $1,651,000.

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

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 510 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $366,134.10. Following the completion of the transaction, the executive vice president now directly owns 5,435 shares in the company, valued at $3,901,840.85. This represents a 8.58% 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 543 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $724.47 on Wednesday. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $732.99. The firm has a market cap of $90.64 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. The business has a 50-day simple moving average of $705.65 and a two-hundred day simple moving average of $645.81.

McKesson (NYSE:MCK) last released its quarterly earnings results 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 net margin of 0.92% and a negative return on equity of 201.12%. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter in the prior year, the firm earned $6.18 EPS. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MCK shares. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Morgan Stanley upped their price target on shares of McKesson from $745.00 to $770.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, UBS Group upped their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $694.38.

McKesson Profile

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.