Allworth Financial LP Has $2.12 Million Stock Position in McKesson Co. (NYSE:MCK)

Allworth Financial LP increased its stake in McKesson Co. (NYSE:MCK - Free Report) by 25.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,628 shares of the company's stock after acquiring an additional 734 shares during the period. Allworth Financial LP's holdings in McKesson were worth $2,120,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson in the third quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the third quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new position in McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in McKesson during the fourth quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC lifted its position in McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock valued at $47,000 after buying an additional 28 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, 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 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $645.79.

McKesson Stock Performance

Shares of McKesson stock traded down $5.83 during trading on Friday, reaching $597.68. The company had a trading volume of 671,026 shares, compared to its average volume of 745,545. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm's fifty day moving average is $588.60 and its 200-day moving average is $562.48. The company has a market cap of $74.91 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. On average, research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared 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. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. 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.