Kingsview Wealth Management LLC Buys 37 Shares of McKesson Co. (NYSE:MCK)

Kingsview Wealth Management LLC increased its stake in McKesson Co. (NYSE:MCK) by 1.2% in the fourth quarter, HoldingsChannel reports. The fund owned 3,123 shares of the company’s stock after purchasing an additional 37 shares during the period. Kingsview Wealth Management LLC’s holdings in McKesson were worth $1,780,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares during the last quarter. FMR LLC boosted its position in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares during the period. Geode Capital Management LLC grew its holdings in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Morgan Stanley raised 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. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $645.79.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred 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 sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $603.33 on Tuesday. The firm has a market capitalization of $76.59 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.30 and a beta of 0.52. The firm has a 50 day moving average price of $588.40 and a 200-day moving average price of $562.55. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate 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 forecast that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

McKesson 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.