Unique Wealth Strategies LLC Purchases Shares of 2,089 McKesson Co. (NYSE:MCK)

Unique Wealth Strategies LLC acquired a new stake in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,089 shares of the company’s stock, valued at approximately $967,000.

A number of other institutional investors have also recently made changes to their positions in MCK. Raymond James & Associates grew its holdings in McKesson by 6.1% during the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after buying an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in McKesson by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after purchasing an additional 5,425 shares during the last quarter. Insight Wealth Strategies LLC purchased a new position in shares of McKesson in the 4th quarter worth $1,813,000. Aspire Private Capital LLC raised its position in shares of McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after buying an additional 60 shares in the last quarter. Finally, Argus Investors Counsel Inc. purchased a new position in McKesson in the fourth quarter worth about $891,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK traded up $3.36 on Friday, reaching $543.30. 654,669 shares of the stock traded hands, compared to its average volume of 493,786. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81. The company has a market cap of $71.40 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.43 and a beta of 0.45. The company has a fifty day moving average price of $528.15 and a 200-day moving average price of $489.48.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm 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%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $6.90 earnings per share. As a group, research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is 11.24%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCK. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. UBS Group increased 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. Finally, Barclays started coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. Two investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $533.50.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s 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 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 filing with the SEC, which is available through the SEC website. In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.