IHT Wealth Management LLC Buys 1,004 Shares of McKesson Co. (NYSE:MCK)

IHT Wealth Management LLC grew its stake in McKesson Co. (NYSE:MCK – Get Rating) by 67.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,482 shares of the company’s stock after acquiring an additional 1,004 shares during the quarter. IHT Wealth Management LLC’s holdings in McKesson were worth $844,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MCK. Covestor Ltd boosted its holdings in McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Almanack Investment Partners LLC. bought a new stake in McKesson in the third quarter worth $41,000. Worth Asset Management LLC bought a new stake in McKesson in the first quarter worth $41,000. Fairfield Bush & CO. purchased a new position in shares of McKesson in the first quarter worth $46,000. Finally, Orion Capital Management LLC purchased a new position in shares of McKesson in the third quarter worth $49,000. 85.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group decreased their price target on McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a research note on Tuesday, January 31st. Robert W. Baird boosted their price target on McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. StockNews.com assumed coverage on McKesson in a research note on Thursday. They issued a “strong-buy” rating for the company. Finally, Morgan Stanley boosted their price target on McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $416.30.

McKesson Stock Performance

McKesson stock opened at $339.35 on Friday. The stock has a market cap of $46.47 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.25 and a beta of 0.59. McKesson Co. has a one year low of $292.40 and a one year high of $401.78. The stock has a fifty day moving average of $362.87 and a 200 day moving average of $366.39.

McKesson (NYSE:MCK – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $6.90 EPS for the quarter, beating analysts’ consensus estimates of $6.36 by $0.54. McKesson had a negative return on equity of 216.12% and a net margin of 1.15%. The company had revenue of $70.49 billion during the quarter, compared to analysts’ expectations of $70.98 billion. During the same quarter in the prior year, the business earned $6.15 earnings per share. McKesson’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that McKesson Co. will post 25.93 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, February 28th. McKesson’s dividend payout ratio is presently 9.88%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Nancy Avila sold 161 shares of the business’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $370.02, for a total transaction of $59,573.22. Following the completion of the sale, the executive vice president now owns 4,631 shares of the company’s stock, valued at $1,713,562.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Brian S. Tyler sold 7,416 shares of the company’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the transaction, the chief executive officer now owns 75,737 shares of the company’s stock, valued at $28,780,060. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Avila sold 161 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the completion of the transaction, the executive vice president now directly owns 4,631 shares of the company’s stock, valued at approximately $1,713,562.62. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

McKesson Profile

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).