TD Private Client Wealth LLC Purchases 298 Shares of McKesson Co. (NYSE:MCK)

TD Private Client Wealth LLC boosted its position in McKesson Co. (NYSE:MCK) by 18.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,891 shares of the company’s stock after acquiring an additional 298 shares during the period. TD Private Client Wealth LLC’s holdings in McKesson were worth $1,078,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust bought a new stake in McKesson during the 4th quarter valued at $33,000. Atala Financial Inc purchased a new stake in shares of McKesson during the fourth quarter worth $34,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the third quarter worth $31,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson during the 4th quarter valued at $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

NYSE:MCK opened at $659.45 on Monday. The company has a market capitalization of $82.65 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.29 and a beta of 0.52. The business has a 50 day moving average of $616.14 and a 200 day moving average of $574.35. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $673.23.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. As a group, sell-side analysts anticipate 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 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 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Morgan Stanley increased their target price 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. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company increased their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Two 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company’s stock.

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.