Schechter Investment Advisors LLC Has $3.15 Million Position in McKesson Co. (NYSE:MCK)

Schechter Investment Advisors LLC grew its holdings in McKesson Co. (NYSE:MCK) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,529 shares of the company’s stock after purchasing an additional 262 shares during the quarter. Schechter Investment Advisors LLC’s holdings in McKesson were worth $3,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pinnacle Associates Ltd. boosted its stake in McKesson by 11.6% during the third quarter. Pinnacle Associates Ltd. now owns 2,582 shares of the company’s stock worth $1,196,000 after acquiring an additional 268 shares in the last quarter. Stephens Inc. AR boosted its position in shares of McKesson by 3.1% during the 3rd quarter. Stephens Inc. AR now owns 1,505 shares of the company’s stock worth $744,000 after purchasing an additional 45 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of McKesson by 17.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 682 shares of the company’s stock valued at $342,000 after buying an additional 99 shares during the period. Pure Financial Advisors LLC increased its position in McKesson by 3.2% in the 3rd quarter. Pure Financial Advisors LLC now owns 767 shares of the company’s stock valued at $379,000 after buying an additional 24 shares in the last quarter. Finally, Campbell Capital Management Inc. raised its stake in McKesson by 120.1% during the 3rd quarter. Campbell Capital Management Inc. now owns 9,860 shares of the company’s stock worth $4,875,000 after buying an additional 5,380 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock worth $11,536,378 over the last quarter. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on MCK. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

McKesson Price Performance

Shares of NYSE:MCK opened at $640.82 on Monday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $641.70. The company has a market capitalization of $80.31 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business has a fifty day moving average price of $594.13 and a two-hundred day moving average price of $564.25.

McKesson (NYSE:MCK) last posted its quarterly 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 net margin of 0.82% and a negative return on equity of 181.26%. Sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.