Waldron Private Wealth LLC Increases Stock Holdings in McKesson Co. (NYSE:MCK)

Waldron Private Wealth LLC grew its stake in shares of McKesson Co. (NYSE:MCK) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 907 shares of the company’s stock after buying an additional 145 shares during the period. Waldron Private Wealth LLC’s holdings in McKesson were worth $420,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MCK. Covestor Ltd lifted its position in shares of McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after buying an additional 34 shares in the last quarter. OFI Invest Asset Management bought a new stake in McKesson during the 3rd quarter valued at approximately $26,000. Legacy Financial Group LLC bought a new stake in McKesson during the 3rd quarter valued at approximately $27,000. Live Oak Investment Partners bought a new stake in McKesson during the 4th quarter valued at approximately $30,000. Finally, BKM Wealth Management LLC bought a new stake in McKesson during the 4th quarter valued at approximately $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction 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 completion of the transaction, 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 available at this hyperlink. In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MCK shares. UBS Group lifted their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Morgan Stanley lifted their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday. SVB Leerink began coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective on the stock. Argus lifted their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

McKesson Trading Down 0.1 %

Shares of MCK stock opened at $522.68 on Tuesday. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00. The stock has a market capitalization of $68.69 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 1.42 and a beta of 0.45. The stock has a fifty day simple moving average of $523.34 and a two-hundred day simple moving average of $484.53.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $6.90 EPS. Research analysts predict that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s payout ratio is 11.24%.

McKesson 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.