McKesson Co. (NYSE:MCK) Holdings Raised by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC grew its position in McKesson Co. (NYSE:MCK) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,786 shares of the company’s stock after acquiring an additional 58 shares during the quarter. Freestone Capital Holdings LLC’s holdings in McKesson were worth $7,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in MCK. FMR LLC increased its holdings in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in McKesson by 55.8% during the 3rd 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 last quarter. Janus Henderson Group PLC grew its stake in McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after buying an additional 321,119 shares during the last quarter. Proficio Capital Partners LLC bought a new position in McKesson during the 4th quarter worth $178,397,000. Finally, Raymond James Financial Inc. bought a new position in McKesson during the 4th quarter worth $128,125,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock worth $11,536,378 in the last quarter. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent research reports. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Down 0.5 %

Shares of McKesson stock opened at $640.39 on Thursday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $653.92. The firm has a market cap of $80.26 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business has a fifty day simple moving average of $598.01 and a 200-day simple moving average of $566.15.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s dividend payout ratio (DPR) is 13.00%.

About McKesson

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.