Segment Wealth Management LLC Boosts Stake in McKesson Co. (NYSE:MCK)

Segment Wealth Management LLC boosted its position in McKesson Co. (NYSE:MCK) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,628 shares of the company’s stock after purchasing an additional 366 shares during the period. McKesson makes up approximately 1.2% of Segment Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding. Segment Wealth Management LLC’s holdings in McKesson were worth $18,025,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. International Assets Investment Management LLC boosted its position in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after acquiring an additional 734,849 shares in the last quarter. FMR LLC raised its position in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in 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 purchasing an additional 425,875 shares during the period. Janus Henderson Group PLC increased its stake in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value 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. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

MCK opened at $592.69 on Tuesday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The stock has a market cap of $75.24 billion, a P/E ratio of 30.69, a P/E/G ratio of 1.28 and a beta of 0.52. The stock’s 50 day simple moving average is $595.11 and its 200 day simple moving average is $561.01.

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

McKesson Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Bank of America cut 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. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

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.