McKesson Co. (NYSE:MCK) Shares Purchased by Measured Wealth Private Client Group LLC

Measured Wealth Private Client Group LLC raised its stake in McKesson Co. (NYSE:MCK) by 19.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 664 shares of the company’s stock after purchasing an additional 107 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in McKesson were worth $378,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MCK. Massachusetts Financial Services Co. MA lifted its holdings in shares of McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares during the last quarter. FMR LLC raised its position in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the period. Geode Capital Management LLC lifted its stake in McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MCK. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Morgan Stanley boosted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $645.79.

McKesson Price Performance

McKesson stock opened at $598.85 on Friday. The stock’s fifty day moving average is $589.61 and its two-hundred day moving average is $562.56. The stock has a market cap of $76.02 billion, a PE ratio of 31.01, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. On average, research analysts expect that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 14.71%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Company 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.