Precision Wealth Strategies LLC Makes New $208,000 Investment in McKesson Co. (NYSE:MCK)

Precision Wealth Strategies LLC bought a new position in McKesson Co. (NYSE:MCKGet Rating) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 639 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Norges Bank acquired a new position in McKesson in the 4th quarter worth about $386,729,000. Aaron Wealth Advisors LLC increased its stake in shares of McKesson by 30,460.5% in the first quarter. Aaron Wealth Advisors LLC now owns 890,838 shares of the company’s stock valued at $2,910,000 after buying an additional 887,923 shares during the period. Acadian Asset Management LLC increased its stake in shares of McKesson by 360.8% in the first quarter. Acadian Asset Management LLC now owns 1,077,083 shares of the company’s stock valued at $329,689,000 after buying an additional 843,348 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of McKesson in the first quarter valued at about $99,472,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of McKesson by 53.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock valued at $280,399,000 after buying an additional 320,588 shares during the period. Institutional investors and hedge funds own 86.43% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $346.96 on Friday. McKesson Co. has a 1 year low of $193.89 and a 1 year high of $375.23. The company has a market cap of $49.87 billion, a PE ratio of 36.68, a P/E/G ratio of 1.41 and a beta of 0.59. The stock’s 50-day moving average is $351.78 and its 200 day moving average is $328.20.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, August 31st. This is an increase from McKesson’s previous quarterly dividend of $0.47. McKesson’s payout ratio is currently 22.83%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on McKesson from $378.00 to $409.00 in a research note on Monday, August 8th. Morgan Stanley increased their price target on McKesson from $370.00 to $403.00 and gave the stock an “overweight” rating in a report on Monday, August 22nd. UBS Group raised their target price on McKesson from $380.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Argus lifted their price target on McKesson from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Finally, Robert W. Baird lifted their price target on McKesson from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $352.46.

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 1,300 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $367.21, for a total transaction of $477,373.00. Following the transaction, the executive vice president now owns 2,544 shares in the company, valued at approximately $934,182.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McKesson news, EVP Lori A. Schechter sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $343.94, for a total transaction of $2,579,550.00. Following the transaction, the executive vice president now owns 11,678 shares in the company, valued at approximately $4,016,531.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas L. Rodgers sold 1,300 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $367.21, for a total value of $477,373.00. Following the transaction, the executive vice president now owns 2,544 shares in the company, valued at approximately $934,182.24. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

About McKesson

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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