Transform Wealth LLC Buys 552 Shares of McKesson Co. (NYSE:MCK)

Transform Wealth LLC grew its stake in McKesson Co. (NYSE:MCK) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,030 shares of the company’s stock after purchasing an additional 552 shares during the quarter. Transform Wealth LLC’s holdings in McKesson were worth $10,412,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. RFP Financial Group LLC lifted its position in shares of McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after purchasing an additional 17 shares during the period. Modera Wealth Management LLC lifted its position in shares of McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares during the period. Larson Financial Group LLC lifted its position in shares of McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the period. First Western Trust Bank lifted its position in shares of McKesson by 2.0% in 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 during the period. Finally, KCM Investment Advisors LLC lifted its position in shares of McKesson by 1.4% during the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock valued at $727,000 after acquiring an additional 19 shares during the period. 85.07% of the stock is owned by institutional investors.

McKesson Stock Down 0.5 %

MCK stock traded down $2.40 during midday trading on Wednesday, reaching $511.27. 201,184 shares of the company’s stock traded hands, compared to its average volume of 804,452. The company has a market cap of $66.43 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 1.17 and a beta of 0.44. The firm’s fifty day moving average price is $524.64 and its 200-day moving average price is $552.71. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

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

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a $0.71 dividend. 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. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. McKesson’s dividend payout ratio is presently 12.69%.

Analysts Set New Price Targets

A number of research firms recently issued reports on MCK. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Wells Fargo & Company dropped their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Citigroup dropped their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Bank of America boosted their target price on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Mizuho boosted their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.11% 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.