LPL Financial LLC Acquires 10,148 Shares of McKesson Co. (NYSE:MCK)

LPL Financial LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,196 shares of the company’s stock after acquiring an additional 10,148 shares during the quarter. LPL Financial LLC’s holdings in McKesson were worth $78,759,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the 3rd quarter valued at $31,000. Synergy Asset Management LLC bought a new stake in McKesson in the fourth quarter valued at $32,000. Crews Bank & Trust acquired a new position in McKesson during the fourth quarter worth $33,000. Finally, Atala Financial Inc acquired a new stake in shares of McKesson in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCK. 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 report on Tuesday, December 17th. Evercore ISI raised 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. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Finally, Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Trading Down 0.2 %

McKesson stock opened at $662.45 on Thursday. The firm has a market capitalization of $83.02 billion, a P/E ratio of 30.33, a PEG ratio of 1.29 and a beta of 0.52. The business has a 50-day moving average of $620.63 and a 200-day moving average of $577.10. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $670.79.

McKesson (NYSE:MCK) last issued 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%. Research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. Company 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.