Leo Wealth LLC Makes New Investment in McKesson Corporation $MCK

Leo Wealth LLC acquired a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 300 shares of the company’s stock, valued at approximately $220,000.

Several other large investors have also recently bought and sold shares of MCK. Brighton Jones LLC raised its position in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares in the last quarter. GAMMA Investing LLC raised its position in McKesson by 12.5% in the first quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock worth $2,393,000 after acquiring an additional 396 shares in the last quarter. SG Americas Securities LLC raised its position in McKesson by 303.7% in the first quarter. SG Americas Securities LLC now owns 5,369 shares of the company’s stock worth $3,613,000 after acquiring an additional 4,039 shares in the last quarter. Focus Financial Network Inc. purchased a new position in McKesson in the first quarter worth $202,000. Finally, Simon Quick Advisors LLC raised its position in McKesson by 55.3% in the first quarter. Simon Quick Advisors LLC now owns 1,034 shares of the company’s stock worth $696,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.8%

MCK opened at $763.89 on Friday. The firm has a market cap of $95.01 billion, a P/E ratio of 30.46, a PEG ratio of 1.37 and a beta of 0.52. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $776.14. The business’s fifty day simple moving average is $707.48 and its 200 day simple moving average is $706.09.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm’s revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.88 EPS. As a group, equities analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 13.08%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,189 shares of company stock worth $16,722,190. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MCK shares. Citigroup upped their target price on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Leerink Partners upped their target price on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Wells Fargo & Company upped their target price on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their target price on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. upped their target price on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $829.08.

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.