Journey Strategic Wealth LLC Has $857,000 Position in McKesson Corporation $MCK

Journey Strategic Wealth LLC lifted its holdings in shares of McKesson Corporation (NYSE:MCK) by 42.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,170 shares of the company’s stock after buying an additional 346 shares during the period. Journey Strategic Wealth LLC’s holdings in McKesson were worth $857,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of McKesson by 29.3% in the first quarter. Wedbush Securities Inc. now owns 1,951 shares of the company’s stock valued at $1,313,000 after buying an additional 442 shares in the last quarter. AE Wealth Management LLC grew its stake in shares of McKesson by 4.9% in the first quarter. AE Wealth Management LLC now owns 5,760 shares of the company’s stock valued at $3,877,000 after buying an additional 271 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in McKesson by 16.1% during the first quarter. Pinnacle Associates Ltd. now owns 2,486 shares of the company’s stock worth $1,673,000 after buying an additional 344 shares during the last quarter. Finally, Advisor OS LLC raised its position in McKesson by 20.2% during the first quarter. Advisor OS LLC now owns 637 shares of the company’s stock worth $429,000 after acquiring an additional 107 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of MCK stock opened at $866.13 on Friday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $869.74. The company has a market capitalization of $106.90 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 1.46 and a beta of 0.51. The company has a 50-day simple moving average of $788.46 and a 200 day simple moving average of $734.59.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same period last year, the business posted $7.07 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jefferies Financial Group lifted their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Weiss Ratings upgraded shares of McKesson from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. TD Cowen lifted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Leerink Partners upped their price objective on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Zacks Research raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

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.