Rise Advisors LLC Invests $40,000 in McKesson Co. (NYSE:MCK)

Rise Advisors LLC acquired a new position in shares of McKesson Co. (NYSE:MCK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 74 shares of the company’s stock, valued at approximately $40,000.

Other hedge funds have also added to or reduced their stakes in the company. Douglass Winthrop Advisors LLC increased its position in McKesson by 1.4% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after buying an additional 21 shares during the last quarter. Addison Advisors LLC raised its position in shares of McKesson by 7.9% in the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock valued at $138,000 after purchasing an additional 22 shares during the period. Evergreen Wealth Solutions LLC lifted its stake in shares of McKesson by 1.2% during the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock valued at $894,000 after buying an additional 22 shares in the last quarter. Keystone Financial Services grew its stake in McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after buying an additional 24 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC grew its position in shares of McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MCK shares. Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. TD Cowen upped their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Evercore ISI boosted their price target on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $571.47.

Insider Transactions at McKesson

In other news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Britt J. Vitalone sold 12,752 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the transaction, the chief financial officer now owns 14,028 shares of the company’s stock, valued at approximately $7,828,886.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Maria Martinez sold 483 shares of McKesson stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,814 shares of company stock worth $14,511,649. 0.21% of the stock is currently owned by insiders.

McKesson Price Performance

NYSE:MCK opened at $603.24 on Friday. The company has a market capitalization of $78.42 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.41 and a beta of 0.47. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $605.33. The business has a 50 day moving average of $556.91 and a 200 day moving average of $518.77.

McKesson (NYSE:MCK) last released its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same period last year, the firm posted $7.19 EPS. The company’s revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts anticipate that McKesson Co. will post 31.54 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.41%. McKesson’s dividend payout ratio is currently 11.08%.

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.