Dynasty Wealth Management LLC Acquires 195 Shares of McKesson Corporation (NYSE:MCK)

Dynasty Wealth Management LLC boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,153 shares of the company’s stock after acquiring an additional 195 shares during the quarter. Dynasty Wealth Management LLC’s holdings in McKesson were worth $2,122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. raised its position in shares of McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock valued at $3,056,000 after purchasing an additional 1,592 shares during the period. Dynamic Advisor Solutions LLC raised its position in shares of McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock valued at $524,000 after purchasing an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock valued at $15,501,000 after purchasing an additional 3,659 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of McKesson by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock valued at $123,332,000 after purchasing an additional 7,556 shares during the period. Finally, CWA Asset Management Group LLC raised its position in shares of McKesson by 6.3% in the first quarter. CWA Asset Management Group LLC now owns 979 shares of the company’s stock valued at $659,000 after purchasing an additional 58 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the sale, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 341 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the completion of the sale, the executive vice president owned 2,800 shares in the company, valued at $2,010,148. This represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock worth $37,242,862 in the last three months. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

MCK opened at $715.57 on Thursday. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The firm’s fifty day moving average price is $715.73 and its two-hundred day moving average price is $664.96. The company has a market capitalization of $89.52 billion, a P/E ratio of 27.70, a P/E/G ratio of 1.42 and a beta of 0.48.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the company earned $6.18 earnings per share. The business’s revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson’s dividend payout ratio is currently 10.99%.

Analyst Ratings Changes

A number of equities analysts have recently commented on MCK shares. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. UBS Group raised their price objective 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. Finally, Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an “equal weight” rating in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $710.17.

McKesson Company 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.