Austin Private Wealth LLC Boosts Holdings in McKesson Co. (NYSE:MCK)

Austin Private Wealth LLC increased its holdings in shares of McKesson Co. (NYSE:MCK) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,094 shares of the company’s stock after buying an additional 27 shares during the period. Austin Private Wealth LLC’s holdings in McKesson were worth $506,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Fairfield Bush & CO. purchased a new stake in McKesson in the first quarter valued at $46,000. Synovus Financial Corp grew its stake in McKesson by 4.0% during the 1st quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock worth $673,000 after buying an additional 85 shares during the last quarter. Prudential PLC acquired a new position in McKesson during the first quarter worth approximately $1,610,000. Cetera Investment Advisers lifted its stake in McKesson by 17.8% in the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock valued at $3,012,000 after buying an additional 1,490 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of McKesson in the first quarter valued at approximately $598,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Wells Fargo & Company started coverage on shares of McKesson in a research note on Thursday, December 14th. They set an “equal weight” rating and a $502.00 price target for the company. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Mizuho upped their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, UBS Group boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $522.21.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $20,853,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Brian S. Tyler sold 14,026 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold a total of 17,685 shares of company stock valued at $8,646,498 in the last quarter. 0.21% of the stock is currently owned by company insiders.

McKesson Trading Down 0.4 %

NYSE:MCK opened at $536.85 on Friday. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $540.00. The company has a market capitalization of $70.55 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 1.65 and a beta of 0.44. The firm has a 50-day moving average price of $512.99 and a two-hundred day moving average price of $475.15.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 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 firm had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the prior year, the firm earned $6.90 EPS. McKesson’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities research analysts predict that McKesson Co. will post 27.61 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be issued a $0.62 dividend. The ex-dividend date is Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

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.