McKesson Corporation $MCK Shares Acquired by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC increased its position in shares of McKesson Corporation (NYSE:MCK) by 4.2% in the second quarter, HoldingsChannel.com reports. The firm owned 7,103 shares of the company’s stock after acquiring an additional 287 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in McKesson were worth $5,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Solstein Capital LLC lifted its holdings in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. GFG Capital LLC purchased a new stake in McKesson during the second quarter worth approximately $30,000. Bank of Jackson Hole Trust boosted its holdings in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after purchasing an additional 18 shares in the last quarter. Saudi Central Bank purchased a new position in McKesson in the first quarter valued at approximately $34,000. Finally, Access Investment Management LLC acquired a new stake in McKesson during the second quarter worth approximately $40,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on MCK. UBS Group lifted their price target on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings raised McKesson from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. Jefferies Financial Group raised their target price on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Wells Fargo & Company upped their target price on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $887.69.

Insider Activity at McKesson

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

McKesson Trading Up 2.0%

Shares of NYSE:MCK opened at $866.13 on Friday. The firm has a market cap 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 stock’s 50-day moving average price is $788.46 and its two-hundred day moving average price is $734.59. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $869.74.

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

McKesson Dividend Announcement

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

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.