Earned Wealth Advisors LLC Buys 136 Shares of McKesson Corporation (NYSE:MCK)

Earned Wealth Advisors LLC lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 37.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 500 shares of the company’s stock after purchasing an additional 136 shares during the quarter. Earned Wealth Advisors LLC’s holdings in McKesson were worth $337,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its holdings in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company’s stock valued at $1,622,754,000 after buying an additional 222,496 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Northern Trust Corp grew its stake in McKesson by 9.0% during the fourth quarter. Northern Trust Corp now owns 1,532,203 shares of the company’s stock valued at $873,218,000 after acquiring an additional 126,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in McKesson by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,103,050 shares of the company’s stock worth $628,639,000 after acquiring an additional 95,806 shares during the period. Finally, AQR Capital Management LLC lifted its stake in McKesson by 9.2% in the 4th quarter. AQR Capital Management LLC now owns 922,180 shares of the company’s stock worth $525,560,000 after purchasing an additional 77,344 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCK. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an “equal weight” rating in a research note on Tuesday, June 3rd. Bank of America boosted 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. Finally, Evercore ISI upped their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $710.17.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president owned 2,544 shares of the company’s stock, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,488 shares of company stock worth $37,242,862 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Performance

MCK stock opened at $698.43 on Monday. The company has a market capitalization of $87.38 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.41 and a beta of 0.50. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The company’s 50 day moving average price is $716.58 and its two-hundred day moving average price is $676.81.

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

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson’s dividend payout ratio is presently 12.70%.

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.