McKesson Co. (NYSE:MCK) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in McKesson Co. (NYSE:MCK - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,913 shares of the company's stock after buying an additional 689 shares during the period. Cerity Partners LLC's holdings in McKesson were worth $24,836,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MCK. Frank Rimerman Advisors LLC increased its holdings in shares of McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after acquiring an additional 17 shares during the last quarter. Old North State Trust LLC boosted its holdings in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after buying an additional 18 shares in the last quarter. Trust Co. of Vermont lifted its position in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after acquiring an additional 18 shares during the last quarter. Hemington Wealth Management boosted its stake in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after acquiring an additional 18 shares in the last quarter. Finally, First Western Trust Bank grew its holdings in shares of McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Three 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $668.50.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's 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 approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Performance

McKesson stock traded up $0.79 during midday trading on Monday, reaching $690.15. 238,601 shares of the company were exchanged, compared to its average volume of 878,655. The company has a market capitalization of $86.49 billion, a price-to-earnings ratio of 31.60, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.32. The firm's 50-day simple moving average is $642.70 and its 200-day simple moving average is $593.86.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. 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.