Strategic Wealth Partners Ltd. Invests $308,000 in McKesson Co. (NYSE:MCK)

Strategic Wealth Partners Ltd. acquired a new position in McKesson Co. (NYSE:MCK) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 573 shares of the company’s stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wahed Invest LLC boosted its holdings in McKesson by 14.4% in the 1st quarter. Wahed Invest LLC now owns 2,609 shares of the company’s stock valued at $1,401,000 after purchasing an additional 329 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of McKesson by 3.7% during the 1st quarter. Citizens Financial Group Inc. RI now owns 985 shares of the company’s stock worth $529,000 after acquiring an additional 35 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of McKesson by 251.9% during the 1st quarter. Plato Investment Management Ltd now owns 3,463 shares of the company’s stock worth $1,859,000 after acquiring an additional 2,479 shares during the period. KLCM Advisors Inc. lifted its holdings in shares of McKesson by 67.8% during the 1st quarter. KLCM Advisors Inc. now owns 1,057 shares of the company’s stock worth $568,000 after acquiring an additional 427 shares during the period. Finally, First Western Trust Bank increased its position in shares of McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after purchasing an additional 18 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 0.2 %

Shares of NYSE MCK traded up $1.29 during midday trading on Friday, reaching $630.38. The company’s stock had a trading volume of 839,734 shares, compared to its average volume of 703,152. McKesson Co. has a fifty-two week low of $404.72 and a fifty-two week high of $637.51. The stock has a market capitalization of $81.91 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.44 and a beta of 0.45. The stock has a 50 day simple moving average of $587.35 and a 200-day simple moving average of $545.68.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (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 analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $7.19 earnings per share. As a group, equities analysts anticipate that McKesson Co. will post 31.68 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a $0.71 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s payout ratio is currently 11.08%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MCK shares. UBS Group raised their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Morgan Stanley raised their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Argus raised their target price on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $599.33.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 704 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $392,895.36. Following the completion of the sale, the executive vice president now owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 704 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $392,895.36. Following the sale, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at approximately $1,236,169.35. The disclosure for this sale can be found here. Insiders have sold a total of 29,567 shares of company stock worth $16,691,841 over the last ninety days. Insiders own 0.11% of the company’s stock.

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.