Transform Wealth LLC Acquires 513 Shares of McKesson Co. (NYSE:MCK)

Transform Wealth LLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,826 shares of the company’s stock after acquiring an additional 513 shares during the period. Transform Wealth LLC’s holdings in McKesson were worth $10,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sachetta LLC bought a new position in shares of McKesson in the fourth quarter valued at $27,000. BKM Wealth Management LLC purchased a new stake in shares of McKesson during the 4th quarter valued at $31,000. Richardson Financial Services Inc. purchased a new stake in shares of McKesson during the 4th quarter valued at $31,000. Carolinas Wealth Consulting LLC raised its position in McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new position in McKesson in the 4th quarter worth $40,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley increased their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Barclays increased their price target on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Evercore ISI increased their price target on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $590.47.

Insider Buying and Selling

In other news, Director Maria Martinez sold 483 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other McKesson 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 accessible through the SEC website. Also, Director Maria Martinez sold 483 shares of McKesson stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. 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 90 days. Company insiders own 0.21% of the company’s stock.

McKesson Stock Down 0.6 %

Shares of McKesson stock traded down $3.77 on Friday, reaching $589.43. The company’s stock had a trading volume of 236,843 shares, compared to its average volume of 703,347. The company has a market capitalization of $76.59 billion, a price-to-earnings ratio of 26.51, a P/E/G ratio of 1.40 and a beta of 0.47. The firm’s fifty day simple moving average is $563.21 and its two-hundred day simple moving average is $523.26. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17.

McKesson (NYSE:MCK) last posted its 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). The business had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $7.19 EPS. As a group, research analysts predict 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. Investors 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 currently 11.08%.

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.