McKesson Co. (NYSE:MCK) Shares Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,605 shares of the company’s stock after acquiring an additional 117 shares during the period. Resonant Capital Advisors LLC’s holdings in McKesson were worth $5,030,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MCK. Kestra Private Wealth Services LLC boosted its stake in shares of McKesson by 8.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 2,228 shares of the company’s stock valued at $1,032,000 after acquiring an additional 170 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in McKesson by 3.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 63,324 shares of the company’s stock valued at $29,318,000 after buying an additional 1,840 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of McKesson by 3.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,194 shares of the company’s stock valued at $1,015,000 after acquiring an additional 65 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of McKesson by 12.8% during the 4th quarter. Merit Financial Group LLC now owns 3,572 shares of the company’s stock worth $1,654,000 after acquiring an additional 404 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of McKesson by 46.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,581 shares of the company’s stock worth $1,195,000 after acquiring an additional 824 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, Director Maria Martinez sold 483 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, Director Maria Martinez sold 483 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 sale, the chief executive officer now owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,342 shares of company stock valued at $7,319,742. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird dropped their price target on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. TD Cowen increased their target price on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Wells Fargo & Company boosted their price target on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. Evercore ISI dropped their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Argus lifted their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $620.29.

McKesson Price Performance

MCK traded up $4.93 during trading on Monday, hitting $561.08. The company had a trading volume of 954,100 shares, compared to its average volume of 740,008. The company has a market cap of $72.76 billion, a PE ratio of 25.07, a P/E/G ratio of 1.29 and a beta of 0.45. McKesson Co. has a 1-year low of $404.72 and a 1-year high of $637.51. The business has a 50-day moving average of $580.03 and a 200-day moving average of $556.70.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $7.27 earnings per share. Research analysts forecast that McKesson Co. will post 32.14 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. McKesson’s payout ratio is 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.