Register Financial Advisors LLC Makes New $29,000 Investment in McKesson Co. (NYSE:MCK)

Register Financial Advisors LLC bought a new position in shares of McKesson Co. (NYSE:MCK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 54 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds also recently bought and sold shares of MCK. Douglass Winthrop Advisors LLC lifted its stake in McKesson by 1.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after purchasing an additional 21 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of McKesson by 7.9% during the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after buying an additional 22 shares during the last quarter. Evergreen Wealth Solutions LLC increased its holdings in shares of McKesson by 1.2% during the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock worth $894,000 after buying an additional 22 shares during the last quarter. RMR Wealth Builders increased its holdings in shares of McKesson by 5.2% during the 1st quarter. RMR Wealth Builders now owns 464 shares of the company’s stock worth $249,000 after buying an additional 23 shares during the last quarter. Finally, Keystone Financial Services increased its holdings in shares of McKesson by 2.1% during the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CFO Britt J. Vitalone sold 12,752 shares of McKesson stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the sale, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at approximately $7,828,886.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Britt J. Vitalone sold 12,752 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $7,116,763.68. Following the completion of the sale, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The disclosure for this sale can be found here. In the last three months, insiders sold 25,814 shares of company stock valued at $14,511,649. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MCK shares. TD Cowen raised their price target 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 raised their price target on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Wells Fargo & Company raised their price target on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Morgan Stanley raised their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Bank of America lifted their target price on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $590.47.

McKesson Stock Down 1.5 %

NYSE:MCK opened at $584.04 on Friday. The company has a fifty day simple moving average of $565.88 and a two-hundred day simple moving average of $525.04. The company has a market cap of $75.89 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.39 and a beta of 0.47. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $7.19 earnings per share. On average, analysts expect that McKesson Co. will post 31.54 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

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.