McKesson Co. (NYSE:MCK) Shares Purchased by Claro Advisors LLC

Claro Advisors LLC raised its stake in McKesson Co. (NYSE:MCK) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,065 shares of the company’s stock after buying an additional 55 shares during the period. Claro Advisors LLC’s holdings in McKesson were worth $1,108,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Sachetta LLC purchased a new position in McKesson in the fourth quarter valued at about $27,000. Register Financial Advisors LLC acquired a new position in shares of McKesson in the 1st quarter valued at $29,000. BKM Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $31,000. Richardson Financial Services Inc. acquired a new position in shares of McKesson in the 4th quarter valued at $31,000. Finally, Carolinas Wealth Consulting LLC increased its holdings in McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MCK shares. Wells Fargo & Company lifted their price objective on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. TD Cowen increased their price objective on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Barclays increased their price objective on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, Citigroup increased their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $590.47.

McKesson Stock Performance

Shares of NYSE:MCK traded up $2.30 during trading hours on Monday, hitting $586.34. 768,386 shares of the company’s stock traded hands, compared to its average volume of 711,973. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17. The company’s fifty day simple moving average is $565.88 and its two-hundred day simple moving average is $525.49. The company has a market cap of $76.19 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the previous year, the business earned $7.19 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, analysts anticipate that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s payout ratio is 11.08%.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 789 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $439,788.60. Following the completion of the sale, the executive vice president now directly owns 7,909 shares of the company’s stock, valued at $4,408,476.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Thomas L. Rodgers sold 5,232 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $560.99, for a total transaction of $2,935,099.68. Following the transaction, the executive vice president now owns 2,544 shares of the company’s stock, valued at $1,427,158.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 789 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the transaction, the executive vice president now directly owns 7,909 shares in the company, valued at approximately $4,408,476.60. The disclosure for this sale can be found here. Insiders sold 25,814 shares of company stock valued at $14,511,649 over the last three months. 0.11% of the stock is owned by corporate insiders.

McKesson 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.