McKesson Co. (NYSE:MCK) Shares Bought by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC increased its holdings in McKesson Co. (NYSE:MCKFree Report) by 184.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,421 shares of the company’s stock after buying an additional 922 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in McKesson were worth $658,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Insight Wealth Strategies LLC acquired a new position in shares of McKesson during the fourth quarter valued at approximately $1,813,000. Aspire Private Capital LLC raised its holdings in shares of McKesson by 3.2% during the third quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after acquiring an additional 60 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of McKesson by 5.7% during the fourth quarter. Nordea Investment Management AB now owns 756,560 shares of the company’s stock valued at $350,734,000 after acquiring an additional 40,907 shares during the last quarter. LPL Financial LLC grew its position in shares of McKesson by 8.3% in the third quarter. LPL Financial LLC now owns 86,130 shares of the company’s stock valued at $37,454,000 after purchasing an additional 6,571 shares in the last quarter. Finally, Raymond James & Associates grew its position in shares of McKesson by 0.4% in the third quarter. Raymond James & Associates now owns 144,396 shares of the company’s stock valued at $62,791,000 after purchasing an additional 533 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 14,026 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total value of $6,732,480.00. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $20,853,600. The disclosure for this sale can be found here. Insiders have sold 17,685 shares of company stock worth $8,646,498 in the last quarter. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. UBS Group upped their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. SVB Leerink began coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Citigroup increased their price objective on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company began coverage on McKesson in a research report on Thursday, December 14th. They issued an “equal weight” rating and a $502.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $522.21.

View Our Latest Stock Report on MCK

McKesson Trading Up 0.7 %

Shares of NYSE MCK opened at $536.09 on Wednesday. The stock has a market capitalization of $70.45 billion, a PE ratio of 24.29, a PEG ratio of 1.62 and a beta of 0.44. The stock has a fifty day simple moving average of $510.97 and a 200-day simple moving average of $473.88. McKesson Co. has a twelve month low of $347.45 and a twelve month high of $538.30.

McKesson (NYSE:MCKGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same period in the previous year, the business earned $6.90 EPS. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts predict that McKesson Co. will post 27.61 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.46%. The ex-dividend date is Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

McKesson Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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