Golden State Wealth Management LLC Acquires Shares of 1,268 McKesson Co. (NYSE:MCK)

Golden State Wealth Management LLC bought a new position in McKesson Co. (NYSE:MCK) in the 4th quarter, Holdings Channel.com reports. The firm bought 1,268 shares of the company’s stock, valued at approximately $723,000.

A number of other large investors have also modified their holdings of MCK. Cibc World Market Inc. grew its position in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after acquiring an additional 1,207 shares in the last quarter. Commerce Bank boosted its stake in shares of McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the period. West Oak Capital LLC grew its holdings in McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new stake in McKesson during the 4th quarter worth $3,018,000. Finally, Nordea Investment Management AB lifted its holdings in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Robert W. Baird upgraded shares of 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 research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $645.79.

McKesson Stock Down 0.7 %

Shares of NYSE MCK opened at $595.77 on Friday. The firm’s 50-day moving average price is $589.05 and its two-hundred day moving average price is $562.81. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock has a market capitalization of $75.63 billion, a P/E ratio of 30.85, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly 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 207.50% and a net margin of 0.77%. As a group, equities research analysts expect that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

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.