Sagespring Wealth Partners LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Sagespring Wealth Partners LLC purchased a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 928 shares of the company’s stock, valued at approximately $529,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Millstone Evans Group LLC acquired a new position in McKesson during the fourth quarter valued at $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust purchased a new position in shares of McKesson in the 4th quarter valued at about $33,000. Atala Financial Inc purchased a new position in McKesson during the fourth quarter worth approximately $34,000. Finally, Graney & King LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $38,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK stock opened at $694.12 on Tuesday. The firm’s 50-day moving average is $644.47 and its two-hundred day moving average is $595.30. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The company has a market capitalization of $86.99 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS 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%. Sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson’s payout ratio is currently 13.00%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MCK shares. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Morgan Stanley boosted their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $668.50.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 over the last 90 days. 0.11% of the stock is owned by company insiders.

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.