Robertson Stephens Wealth Management LLC Invests $212,000 in McKesson Co. (NYSE:MCK)

Robertson Stephens Wealth Management LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, Holdings Channel.com reports. The fund purchased 457 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in shares of McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after buying an additional 708,438 shares during the last quarter. Morgan Stanley raised its position in McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Northern Trust Corp raised its holdings in McKesson by 3.3% during the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after purchasing an additional 50,265 shares during the last quarter. Boston Partners boosted its stake in shares of McKesson by 12.5% in the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after purchasing an additional 133,351 shares during the last quarter. Finally, WCM Investment Management LLC grew its position in shares of McKesson by 0.4% during the 4th quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock worth $500,134,000 after buying an additional 4,636 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

MCK has been the subject of several analyst reports. Argus boosted their target price on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Citigroup lifted their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Mizuho increased their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $536.71.

McKesson Trading Down 0.3 %

McKesson stock opened at $528.85 on Friday. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $544.81. The company has a fifty day simple moving average of $530.13 and a 200 day simple moving average of $491.57. The company has a market cap of $69.50 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter last year, the company earned $6.90 EPS. McKesson’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts forecast that McKesson Co. will post 27.59 EPS for the current 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 paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is currently 11.24%.

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.