DeDora Capital Inc. Invests $519,000 in McKesson Co. (NYSE:MCK)

DeDora Capital Inc. bought a new stake in McKesson Co. (NYSE:MCK) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 967 shares of the company’s stock, valued at approximately $519,000.

Other institutional investors have also recently bought and sold shares of the company. Douglass Winthrop Advisors LLC lifted its holdings in McKesson by 1.4% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock valued at $700,000 after purchasing an additional 21 shares during the last quarter. Addison Advisors LLC boosted its holdings in McKesson by 7.9% in the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after buying an additional 22 shares during the period. Evergreen Wealth Solutions LLC lifted its position in shares of McKesson by 1.2% during the fourth quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock worth $894,000 after acquiring an additional 22 shares in the last quarter. RMR Wealth Builders boosted its holdings in shares of McKesson by 5.2% in the first quarter. RMR Wealth Builders now owns 464 shares of the company’s stock worth $249,000 after acquiring an additional 23 shares during the period. Finally, Keystone Financial Services raised its stake in shares of McKesson by 2.1% during the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after purchasing an additional 24 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK traded down $1.41 during mid-day trading on Friday, reaching $528.86. The stock had a trading volume of 866,981 shares, compared to its average volume of 626,262. The firm has a 50 day moving average price of $530.38 and a two-hundred day moving average price of $492.08. The stock has a market capitalization of $69.50 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a one year low of $352.34 and a one year high of $544.81.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.90 EPS. Research analysts forecast that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

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 given a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

MCK has been the subject of a number of recent analyst reports. Citigroup lifted their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group increased their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, Mizuho upped their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $536.71.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.