Advisor OS LLC Purchases New Position in McKesson Co. (NYSE:MCK)

Advisor OS LLC acquired a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 530 shares of the company’s stock, valued at approximately $302,000.

A number of other hedge funds have also recently added to or reduced their stakes in MCK. Lake Street Advisors Group LLC lifted its stake in shares of McKesson by 5.0% in the 4th quarter. Lake Street Advisors Group LLC now owns 2,092 shares of the company’s stock valued at $1,194,000 after acquiring an additional 99 shares during the last quarter. Longbow Finance SA raised its position in McKesson by 5.0% in the fourth quarter. Longbow Finance SA now owns 9,877 shares of the company’s stock valued at $5,629,000 after purchasing an additional 468 shares during the last quarter. Todd Asset Management LLC boosted its stake in shares of McKesson by 3,996.1% during the fourth quarter. Todd Asset Management LLC now owns 38,421 shares of the company’s stock valued at $21,896,000 after purchasing an additional 37,483 shares in the last quarter. Strategent Financial LLC bought a new stake in shares of McKesson during the fourth quarter worth about $210,000. Finally, FourThought Financial Partners LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $1,122,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of several recent research reports. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. 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 on the stock. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Wells Fargo & Company lifted their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock valued at $11,536,378 in the last three months. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $621.03 on Friday. The stock has a market capitalization of $77.83 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock’s 50 day moving average price is $592.91 and its two-hundred day moving average price is $563.46.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. McKesson’s dividend payout ratio is presently 13.00%.

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.