Kingswood Wealth Advisors LLC Has $822,000 Stock Position in McKesson Co. (NYSE:MCK)

Kingswood Wealth Advisors LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,531 shares of the company’s stock after acquiring an additional 110 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in McKesson were worth $822,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MCK. Morgan Stanley grew its stake in shares of McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after buying an additional 294,832 shares in the last quarter. Norges Bank bought a new position in shares of McKesson during the 4th quarter valued at $1,024,140,000. Putnam Investments LLC lifted its stake in shares of McKesson by 3.2% in the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after purchasing an additional 62,242 shares during the last quarter. WCM Investment Management LLC boosted its holdings in McKesson by 0.4% in the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock worth $500,134,000 after purchasing an additional 4,636 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in McKesson by 0.3% during the third quarter. Wellington Management Group LLP now owns 1,030,180 shares of the company’s stock worth $447,974,000 after buying an additional 2,732 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK traded down $4.86 during midday trading on Wednesday, reaching $599.56. 721,164 shares of the company’s stock were exchanged, compared to its average volume of 705,917. The company’s 50 day simple moving average is $561.74 and its two-hundred day simple moving average is $522.73. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $612.17. The firm has a market capitalization of $77.91 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.47.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.41%. McKesson’s payout ratio is presently 11.08%.

Insider Activity

In related news, Director Susan R. Salka sold 606 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Susan R. Salka sold 606 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Britt J. Vitalone sold 12,752 shares of McKesson stock in a transaction dated 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 transaction, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,814 shares of company stock worth $14,511,649. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Robert W. Baird upped their price target on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 18th. Evercore ISI lifted their target price on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. UBS Group upped their price target on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Bank of America lifted their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $590.47.

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.