Sound View Wealth Advisors Group LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Sound View Wealth Advisors Group LLC bought a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 384 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors have also modified their holdings of MCK. Old North State Trust LLC grew its position in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after acquiring an additional 18 shares during the period. Trust Co. of Vermont grew its holdings in shares of McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management increased its position in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after purchasing an additional 18 shares during the last quarter. Black Diamond Financial LLC lifted its position in McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after buying an additional 19 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its stake in McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 2.4 %

Shares of MCK stock opened at $659.53 on Tuesday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $663.62. The company has a market cap of $82.66 billion, a P/E ratio of 30.20, a PEG ratio of 1.29 and a beta of 0.52. The firm has a fifty day moving average price of $602.44 and a 200 day moving average price of $568.25.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS 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%. On average, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is presently 13.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MCK shares. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley upped 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. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. 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. Finally, StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 in the last ninety days. 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.