IAM Advisory LLC Grows Stake in McKesson Co. (NYSE:MCK)

IAM Advisory LLC increased its stake in McKesson Co. (NYSE:MCK) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,935 shares of the company’s stock after acquiring an additional 61 shares during the period. McKesson makes up approximately 0.6% of IAM Advisory LLC’s investment portfolio, making the stock its 28th biggest position. IAM Advisory LLC’s holdings in McKesson were worth $2,113,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Kingswood Wealth Advisors LLC boosted its position in shares of McKesson by 7.7% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,531 shares of the company’s stock valued at $822,000 after buying an additional 110 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of McKesson during the first quarter valued at approximately $394,000. Riverview Trust Co purchased a new position in shares of McKesson during the first quarter valued at approximately $49,000. Gateway Investment Advisers LLC boosted its position in shares of McKesson by 13.9% during the first quarter. Gateway Investment Advisers LLC now owns 4,284 shares of the company’s stock valued at $2,300,000 after buying an additional 523 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in shares of McKesson during the first quarter valued at approximately $7,489,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In other 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Britt J. Vitalone sold 12,752 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the sale, the chief financial officer now directly owns 14,028 shares in the company, valued at $7,828,886.52. The disclosure for this sale can be found here. Insiders have sold 25,814 shares of company stock valued at $14,511,649 over the last ninety days. 0.21% of the stock is currently owned by insiders.

McKesson Trading Down 0.8 %

Shares of MCK stock traded down $4.86 during trading hours on Wednesday, reaching $599.56. 721,164 shares of the company’s stock were exchanged, compared to its average volume of 705,917. The stock’s 50 day moving average is $561.74 and its 200-day moving average is $522.73. The company has a market cap of $77.90 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.41 and a beta of 0.47. McKesson Co. has a fifty-two week low of $395.30 and a fifty-two week high of $612.17.

McKesson (NYSE:MCK) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $7.19 earnings per share. Equities analysts anticipate that McKesson Co. will post 31.54 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Citigroup boosted their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. TD Cowen lifted their price target on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. UBS Group lifted their price target on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 18th. Finally, Evercore ISI lifted their price target on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $590.47.

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.