MorganRosel Wealth Management LLC Buys 125 Shares of McKesson Co. (NYSE:MCK)

MorganRosel Wealth Management LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,778 shares of the company’s stock after acquiring an additional 125 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in McKesson were worth $879,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MCK. Distillate Capital Partners LLC boosted its position in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after acquiring an additional 133 shares in the last quarter. Councilmark Asset Management LLC bought a new stake in shares of McKesson during the first quarter valued at approximately $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new position in shares of McKesson during the second quarter worth approximately $238,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the subject of several research reports. Leerink Partners reduced their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Wells Fargo & Company reduced their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Argus boosted their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

MCK stock opened at $505.59 on Friday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a fifty day moving average of $528.73 and a 200-day moving average of $552.97. The company has a market capitalization of $65.56 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $7.27 earnings per share. Equities analysts predict that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s payout ratio is presently 12.70%.

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.