Evoke Wealth LLC Has $545,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Evoke Wealth LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 955 shares of the company’s stock after buying an additional 177 shares during the period. Evoke Wealth LLC’s holdings in McKesson were worth $545,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Frank Rimerman Advisors LLC raised its holdings in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after buying an additional 17 shares during the last quarter. Old North State Trust LLC raised its holdings in McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares during the last quarter. Trust Co. of Vermont raised its holdings in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management raised its holdings in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after buying an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its holdings in McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 1.0 %

Shares of NYSE:MCK opened at $661.63 on Wednesday. The firm has a market capitalization of $82.92 billion, a PE ratio of 30.29, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $672.68. The company has a 50-day moving average price of $611.56 and a two-hundred day moving average price of $572.36.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. McKesson’s dividend payout ratio is presently 13.00%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred 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 trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 over the last quarter. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MCK. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Bank of America lowered their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company increased their target price on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $649.36.

About McKesson

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.