Cornerstone Wealth Group LLC Raises Holdings in McKesson Co. (NYSE:MCK)

Cornerstone Wealth Group LLC raised its holdings in McKesson Co. (NYSE:MCK) by 4.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 639 shares of the company’s stock after purchasing an additional 25 shares during the period. Cornerstone Wealth Group LLC’s holdings in McKesson were worth $364,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after buying an additional 734,849 shares during the period. FMR LLC raised its stake in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the last quarter. Janus Henderson Group PLC increased its holdings in 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 during the last quarter. Finally, Nordea Investment Management AB raised its position in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $603.75 on Tuesday. The stock has a market cap of $76.64 billion, a PE ratio of 31.27, a P/E/G ratio of 1.26 and a beta of 0.52. The stock’s fifty day moving average is $592.65 and its two-hundred day moving average is $561.13. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MCK shares. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Leerink Partners decreased their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target 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.