Beaumont Financial Advisors LLC Acquires New Shares in McKesson Co. (NYSE:MCK)

Beaumont Financial Advisors LLC acquired a new stake in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 399 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Thrivent Financial for Lutherans increased its holdings in McKesson by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 19,036 shares of the company’s stock valued at $11,117,000 after purchasing an additional 998 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in McKesson by 76.1% in the second quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock valued at $2,791,000 after purchasing an additional 2,064 shares during the last quarter. Insigneo Advisory Services LLC increased its holdings in McKesson by 25.8% in the second quarter. Insigneo Advisory Services LLC now owns 804 shares of the company’s stock valued at $493,000 after purchasing an additional 165 shares during the last quarter. AQR Capital Management LLC increased its holdings in McKesson by 7.9% in the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after purchasing an additional 62,875 shares during the last quarter. Finally, APG Asset Management US Inc. increased its holdings in McKesson by 2.1% in the second quarter. APG Asset Management US Inc. now owns 63,727 shares of the company’s stock valued at $37,366,000 after purchasing an additional 1,310 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 2.2 %

MCK stock opened at $597.31 on Friday. The business has a 50 day moving average price of $593.20 and a two-hundred day moving average price of $561.23. The company has a market cap of $75.82 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 1.27 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $6.23 earnings per share. On average, equities research analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio is 14.71%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MCK. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $646.14.

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.