Merit Financial Group LLC Has $1.65 Million Stake in McKesson Co. (NYSE:MCK)

Merit Financial Group LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,572 shares of the company’s stock after purchasing an additional 404 shares during the quarter. Merit Financial Group LLC’s holdings in McKesson were worth $1,654,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after acquiring an additional 749,504 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position 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 last quarter. Morgan Stanley raised its stake in shares of McKesson by 14.0% during 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of McKesson by 92.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after buying an additional 272,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in McKesson by 5,683.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock worth $104,178,000 after buying an additional 221,125 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the business’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 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. 0.21% of the stock is owned by insiders.

McKesson Trading Down 0.3 %

Shares of NYSE:MCK opened at $528.86 on Friday. The business’s 50 day moving average is $530.38 and its 200-day moving average is $492.08. The firm has a market capitalization of $69.50 billion, a PE ratio of 23.96, a PEG ratio of 1.41 and a beta of 0.45. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $544.81.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the previous year, the firm posted $6.90 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCK. Morgan Stanley boosted their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Argus increased their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. UBS Group boosted their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. SVB Leerink initiated coverage on McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. Finally, Citigroup boosted their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $536.71.

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.