McKesson Co. (NYSE:MCK) Shares Acquired by MKT Advisors LLC

MKT Advisors LLC lifted its stake in McKesson Co. (NYSE:MCK) by 44.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 787 shares of the company’s stock after purchasing an additional 241 shares during the period. MKT Advisors LLC’s holdings in McKesson were worth $466,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after acquiring an additional 138,685 shares during the period. FMR LLC raised its holdings in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. Geode Capital Management LLC boosted its position in McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares in the last quarter. Legal & General Group Plc grew its holdings in McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCK. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Morgan Stanley boosted 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. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $646.14.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the business’s 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 transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Down 1.0 %

Shares of McKesson stock opened at $591.47 on Friday. The business’s fifty day moving average price is $592.65 and its 200 day moving average price is $561.49. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a market capitalization of $75.08 billion, a P/E ratio of 30.63, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the business earned $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, sell-side analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

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

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.