Laurel Wealth Advisors LLC Has $91.29 Million Holdings in McKesson Corporation $MCK

Laurel Wealth Advisors LLC lifted its stake in McKesson Corporation (NYSE:MCK) by 73,178.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,573 shares of the company’s stock after acquiring an additional 124,403 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in McKesson were worth $91,285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in McKesson by 19.1% in the first quarter. Avantax Advisory Services Inc. now owns 4,236 shares of the company’s stock valued at $2,851,000 after acquiring an additional 679 shares during the period. LPL Financial LLC lifted its holdings in shares of McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after acquiring an additional 17,750 shares during the period. Vantage Financial Partners LLC bought a new stake in McKesson during the first quarter worth about $212,000. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in McKesson by 4.2% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 865 shares of the company’s stock worth $582,000 after acquiring an additional 35 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of MCK stock opened at $890.30 on Wednesday. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $891.60. The stock has a market cap of $109.89 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 1.46 and a beta of 0.51. The firm’s 50-day moving average is $795.76 and its 200-day moving average is $737.48.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the company posted $7.07 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Cowen reissued a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Jefferies Financial Group increased their target price on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Bank of America lifted their price objective on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley boosted their price objective on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $887.69.

About McKesson

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.