McKesson Co. (NYSE:MCK) Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lessened its holdings in McKesson Co. (NYSE:MCK) by 5.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 449 shares of the company’s stock after selling 27 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in McKesson were worth $241,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Register Financial Advisors LLC purchased a new stake in McKesson during the 1st quarter worth about $29,000. Sachetta LLC purchased a new position in McKesson in the fourth quarter worth approximately $27,000. Richardson Financial Services Inc. purchased a new position in McKesson in the fourth quarter worth approximately $31,000. BKM Wealth Management LLC purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $31,000. Finally, Rise Advisors LLC acquired a new stake in shares of McKesson in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. TD Cowen boosted their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. UBS Group increased their price objective on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Barclays boosted their target price on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Finally, Mizuho raised their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Trading Up 0.9 %

Shares of NYSE MCK traded up $4.93 during midday trading on Wednesday, reaching $557.32. 743,917 shares of the company were exchanged, compared to its average volume of 711,839. The stock has a fifty day simple moving average of $537.53 and a 200 day simple moving average of $501.48. The stock has a market cap of $72.45 billion, a P/E ratio of 24.90, a PEG ratio of 1.33 and a beta of 0.45. McKesson Co. has a 1 year low of $373.28 and a 1 year high of $566.16.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter last year, the business posted $7.19 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts forecast that McKesson Co. will post 31.55 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders have sold a total of 4,080 shares of company stock valued at $2,160,489 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

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.