Strategic Wealth Investment Group LLC Acquires New Holdings in McKesson Co. (NYSE:MCK)

Strategic Wealth Investment Group LLC bought a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, HoldingsChannel reports. The firm bought 364 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. Synergy Asset Management LLC acquired a new stake in McKesson during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the third quarter worth $29,000. Crews Bank & Trust acquired a new stake in shares of McKesson during the fourth quarter worth $33,000. Wolff Wiese Magana LLC lifted its position in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter worth $31,000. 85.07% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCK. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Finally, Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Stock Performance

Shares of NYSE:MCK opened at $594.85 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market capitalization of $75.51 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The company has a 50-day simple moving average of $591.35 and a 200 day simple moving average of $562.12.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $6.23 earnings per share. As a group, equities analysts forecast that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

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.