McKesson Co. (NYSE:MCK) Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP increased its stake in shares of McKesson Co. (NYSE:MCK) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,746 shares of the company’s stock after acquiring an additional 285 shares during the quarter. Mission Wealth Management LP’s holdings in McKesson were worth $808,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Addison Advisors LLC increased its position in McKesson by 7.9% during the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after buying an additional 22 shares in the last quarter. Keystone Financial Services raised its holdings 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 acquiring an additional 24 shares during the last quarter. Austin Private Wealth LLC boosted its holdings in shares of McKesson by 2.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock worth $506,000 after purchasing an additional 27 shares during the last quarter. Quent Capital LLC increased its stake in McKesson by 2.2% in the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock valued at $574,000 after purchasing an additional 27 shares during the last quarter. Finally, Kanawha Capital Management LLC boosted its stake in McKesson by 4.7% in the 4th quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock worth $281,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

McKesson Price Performance

McKesson stock opened at $531.21 on Thursday. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81. The company has a fifty day moving average price of $529.73 and a two-hundred day moving average price of $491.30. The company has a market cap of $69.81 billion, a PE ratio of 24.07, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the previous year, the firm posted $6.90 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MCK shares. Citigroup increased their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Barclays began coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. Finally, Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $536.71.

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.