Mosley Wealth Management Raises Holdings in McKesson Co. (NYSE:MCK)

Mosley Wealth Management boosted its stake in shares of McKesson Co. (NYSE:MCK) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 711 shares of the company’s stock after buying an additional 63 shares during the period. Mosley Wealth Management’s holdings in McKesson were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Millstone Evans Group LLC purchased a new stake in shares of McKesson during the 4th quarter worth $28,000. Synergy Asset Management LLC bought a new position in McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust bought a new position in McKesson in the fourth quarter worth about $33,000. Atala Financial Inc purchased a new stake in shares of McKesson during the fourth quarter valued at about $34,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the third quarter valued at approximately $31,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCK. Wells Fargo & Company boosted their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Evercore ISI upped their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $659.45 on Friday. The firm’s 50 day simple moving average is $616.14 and its 200-day simple moving average is $574.33. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $670.79. The stock has a market capitalization of $82.65 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 net margin of 0.82% and a negative return on equity of 181.26%. Analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. 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 payout ratio is 13.00%.

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.