Range Financial Group LLC Has $361,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Range Financial Group LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 6.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 673 shares of the company’s stock after buying an additional 39 shares during the quarter. Range Financial Group LLC’s holdings in McKesson were worth $361,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Sachetta LLC acquired a new position in shares of McKesson in the 4th quarter valued at $27,000. BKM Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $31,000. Richardson Financial Services Inc. acquired a new position in shares of McKesson in the 4th quarter valued at $31,000. Carolinas Wealth Consulting LLC lifted its stake in shares of McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCK. Evercore ISI increased their price target on McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Wells Fargo & Company upped their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. Barclays upped their price objective on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 18th. Finally, Robert W. Baird upped their price objective on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $578.13.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Maria Martinez sold 483 shares of McKesson stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The disclosure for this sale can be found here. Insiders sold 25,814 shares of company stock worth $14,511,649 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

McKesson Trading Up 0.8 %

MCK stock opened at $607.81 on Tuesday. The stock has a 50-day moving average price of $560.22 and a two-hundred day moving average price of $521.70. The stock has a market cap of $79.01 billion, a PE ratio of 27.16, a price-to-earnings-growth 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 $609.57.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.19 EPS. On average, analysts forecast that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

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.