Consolidated Planning Corp Raises Stake in McKesson Co. (NYSE:MCK)

Consolidated Planning Corp lifted its position in shares of McKesson Co. (NYSE:MCK) by 106.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,363 shares of the company’s stock after purchasing an additional 1,219 shares during the quarter. Consolidated Planning Corp’s holdings in McKesson were worth $1,347,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MCK. ORG Wealth Partners LLC purchased a new position in McKesson in the 3rd quarter worth approximately $40,000. CX Institutional boosted its holdings in McKesson by 175.8% in the 3rd quarter. CX Institutional now owns 10,228 shares of the company’s stock worth $5,057,000 after acquiring an additional 6,519 shares during the period. Creative Planning boosted its holdings in McKesson by 2.1% in the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock worth $31,064,000 after acquiring an additional 1,316 shares during the period. QV Investors Inc. boosted its holdings in McKesson by 0.6% in the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after acquiring an additional 20 shares during the period. Finally, Kapitalo Investimentos Ltda boosted its holdings in McKesson by 68.5% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 723 shares of the company’s stock worth $357,000 after acquiring an additional 294 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCK. Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $645.79.

McKesson Trading Down 2.5 %

MCK stock opened at $595.24 on Thursday. The firm has a market cap of $75.56 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock’s 50 day simple moving average is $587.89 and its 200 day simple moving average is $562.68.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

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.