SeaCrest Wealth Management LLC Increases Stock Holdings in McKesson Co. (NYSE:MCK)

SeaCrest Wealth Management LLC lifted its holdings in McKesson Co. (NYSE:MCK) by 4.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,339 shares of the company’s stock after purchasing an additional 95 shares during the period. SeaCrest Wealth Management LLC’s holdings in McKesson were worth $1,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in shares of McKesson by 3.0% in the second quarter. State Street Corp now owns 6,508,134 shares of the company’s stock worth $2,784,399,000 after purchasing an additional 187,371 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley grew its holdings in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after buying an additional 294,832 shares in the last quarter. Norges Bank purchased a new position in shares of McKesson in the fourth quarter worth $633,960,000. Finally, Northern Trust Corp lifted its stake in McKesson by 3.3% in 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 in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total value of $6,732,480.00. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $20,853,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of the company’s 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 in the company, valued at approximately $20,853,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, 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. Insiders sold 17,685 shares of company stock valued at $8,646,498 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.

McKesson Price Performance

NYSE MCK traded down $2.41 during trading on Friday, reaching $536.85. 751,796 shares of the company’s stock traded hands, compared to its average volume of 701,817. The company’s 50 day simple moving average is $512.99 and its two-hundred day simple moving average is $475.15. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $540.00. The firm has a market cap of $70.55 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.65 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $6.90 earnings per share. Research analysts expect that McKesson Co. will post 27.61 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company began coverage on McKesson in a report on Thursday, December 14th. They issued an “equal weight” rating and a $502.00 target price on the stock. Citigroup increased their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. TD Cowen upped their price target on shares of McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a research note on Monday, December 11th. SVB Leerink started coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Finally, Mizuho lifted their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $522.21.

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.