FAS Wealth Partners Inc. Buys New Shares in McKesson Co. (NYSE:MCK)

FAS Wealth Partners Inc. purchased a new position in McKesson Co. (NYSE:MCKFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 579 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors also recently modified their holdings of the stock. Fairfield Bush & CO. acquired a new stake in shares of McKesson during the first quarter worth $46,000. Synovus Financial Corp raised its holdings in McKesson by 4.0% during the 1st quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock worth $673,000 after buying an additional 85 shares during the period. Prudential PLC purchased a new stake in McKesson during the first quarter valued at about $1,610,000. Cetera Investment Advisers lifted its stake in McKesson by 17.8% during the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock valued at $3,012,000 after buying an additional 1,490 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new position in shares of McKesson in the first quarter worth about $598,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MCK shares. UBS Group boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Citigroup increased their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Mizuho lifted their price target on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, SVB Leerink started coverage on McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $522.21.

View Our Latest Analysis on McKesson

McKesson Stock Performance

Shares of NYSE:MCK opened at $533.27 on Wednesday. The company has a 50 day moving average price of $515.89 and a two-hundred day moving average price of $477.96. The company has a market capitalization of $70.08 billion, a PE ratio of 24.16, a PEG ratio of 1.46 and a beta of 0.45. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $540.00.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.90 EPS. On average, sell-side analysts forecast that McKesson Co. will post 27.61 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

Insider Activity

In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

McKesson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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