Steward Partners Investment Advisory LLC lifted its position in McKesson Co. (NYSE:MCK - Free Report) by 10.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,418 shares of the company's stock after purchasing an additional 506 shares during the period. Steward Partners Investment Advisory LLC's holdings in McKesson were worth $3,088,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Old North State Trust LLC boosted its position in McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont increased its holdings in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management raised its position in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after purchasing an additional 18 shares during the last quarter. Black Diamond Financial LLC raised its position in McKesson by 1.3% during the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock valued at $754,000 after purchasing an additional 19 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its holdings in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after buying an additional 20 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.
MCK stock opened at $644.92 on Friday. The business has a 50 day moving average of $600.67 and a 200 day moving average of $567.36. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $653.92. The firm has a market cap of $80.82 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's payout ratio is 13.00%.
MCK has been the subject of a number of recent analyst reports. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Morgan Stanley boosted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $645.79.
Get Our Latest Report on McKesson
In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock valued at $11,536,378 over the last 90 days. Corporate insiders own 0.11% of the company's stock.
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.
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