CreativeOne Wealth LLC Purchases 3,057 Shares of McKesson Co. (NYSE:MCK)

CreativeOne Wealth LLC increased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 46.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,670 shares of the company's stock after purchasing an additional 3,057 shares during the period. CreativeOne Wealth LLC's holdings in McKesson were worth $5,511,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup lowered their price objective 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. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Bank of America lifted their target price on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a report on Friday, April 11th. 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 report on Friday, March 14th. Finally, Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $668.50.

McKesson Trading Up 0.4 %

MCK stock traded up $2.52 during trading hours on Friday, hitting $697.22. 1,044,943 shares of the stock were exchanged, compared to its average volume of 888,394. The company has a 50-day simple moving average of $651.89 and a two-hundred day simple moving average of $599.41. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The firm has a market capitalization of $87.38 billion, a P/E ratio of 31.92, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate 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, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's payout ratio is presently 13.00%.

Insider Activity at McKesson

In other McKesson news, 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 completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock valued at $10,855,706 over the last three months. 0.11% of the stock is owned by insiders.

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.