McClarren Financial Advisors Inc. Buys New Position in McKesson Co. (NYSE:MCK)

McClarren Financial Advisors Inc. purchased a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 371 shares of the company’s stock, valued at approximately $172,000.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in McKesson during the third quarter valued at approximately $26,000. Legacy Financial Group LLC bought a new stake in shares of McKesson during the 3rd quarter worth $27,000. BKM Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter worth $31,000. Avior Wealth Management LLC raised its position in shares of McKesson by 50.0% during the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after purchasing an additional 28 shares during the period. Finally, WASHINGTON TRUST Co lifted its holdings in shares of McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK traded up $4.52 during trading hours on Thursday, hitting $539.94. The stock had a trading volume of 446,710 shares, compared to its average volume of 686,906. The firm’s 50-day moving average price is $527.50 and its two-hundred day moving average price is $488.84. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00. The company has a market capitalization of $70.95 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The firm 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 company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $6.90 earnings per share. As a group, analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MCK shares. Morgan Stanley lifted their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. UBS Group lifted their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Argus lifted their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated 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 transaction, 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 SEC, which is accessible through this hyperlink. In other McKesson 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 sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 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.