Unique Wealth Strategies LLC Acquires Shares of 2,089 McKesson Co. (NYSE:MCK)

Unique Wealth Strategies LLC bought a new position in McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,089 shares of the company’s stock, valued at approximately $967,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank OZK raised its holdings in McKesson by 2.1% during the 4th quarter. Bank OZK now owns 3,958 shares of the company’s stock valued at $1,832,000 after acquiring an additional 80 shares during the period. Addison Advisors LLC lifted its holdings in McKesson by 7.9% during the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after purchasing an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in McKesson by 26.0% in the 4th quarter. Citizens Financial Group Inc. RI now owns 950 shares of the company’s stock worth $440,000 after purchasing an additional 196 shares during the period. Kovack Advisors Inc. grew its holdings in McKesson by 96.1% during the 4th quarter. Kovack Advisors Inc. now owns 1,508 shares of the company’s stock valued at $698,000 after buying an additional 739 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC increased its position in shares of McKesson by 140.7% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 2,313 shares of the company’s stock valued at $1,071,000 after buying an additional 1,352 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.6 %

Shares of NYSE:MCK traded up $3.36 during trading on Friday, reaching $543.30. 654,669 shares of the company traded hands, compared to its average volume of 493,786. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81. The firm has a market capitalization of $71.40 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.43 and a beta of 0.45. The business’s fifty day moving average is $528.15 and its 200-day moving average is $489.48.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.90 EPS. On average, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm 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 $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson 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 sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MCK shares. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Mizuho increased their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley boosted their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Citigroup increased their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

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.