McKesson Co. (NYSE:MCK) Stake Boosted by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the company’s stock after purchasing an additional 40 shares during the period. Opal Wealth Advisors LLC’s holdings in McKesson were worth $570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after acquiring an additional 734,849 shares during the period. FMR LLC grew its holdings in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company raised its position 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 purchasing an additional 425,875 shares during the period. Janus Henderson Group PLC lifted its holdings 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 worth $283,903,000 after purchasing an additional 321,119 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in McKesson by 20.0% during the 4th 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. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’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 directly owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

McKesson Trading Down 0.7 %

Shares of McKesson stock opened at $595.77 on Monday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock has a market cap of $75.63 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The company’s 50-day moving average price is $588.40 and its two-hundred day moving average price is $562.74.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 EPS 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%. On average, equities analysts predict that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is 13.00%.

Analyst Upgrades and Downgrades

MCK has been the topic of several analyst reports. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Robert W. Baird upgraded shares of 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 report on Thursday, November 7th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $645.79.

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.