Empirical Asset Management LLC Invests $19.38 Million in McKesson Co. (NYSE:MCK)

Empirical Asset Management LLC bought a new position in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 34,009 shares of the company's stock, valued at approximately $19,382,000.

Several other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in McKesson by 140.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company's stock valued at $1,747,000 after purchasing an additional 1,747 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of McKesson by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 395,150 shares of the company's stock valued at $230,821,000 after buying an additional 21,832 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of McKesson by 0.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 20,394 shares of the company's stock worth $11,911,000 after acquiring an additional 63 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of McKesson by 16.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 65,412 shares of the company's stock worth $38,176,000 after acquiring an additional 9,263 shares during the last quarter. Finally, Waterloo Capital L.P. bought a new position in McKesson in the second quarter valued at $246,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Up 0.1 %

Shares of MCK stock traded up $0.61 during mid-day trading on Friday, reaching $595.80. 367,421 shares of the company's stock traded hands, compared to its average volume of 617,645. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The company has a market cap of $75.63 billion, a P/E ratio of 30.92, a P/E/G ratio of 1.26 and a beta of 0.52. The company's 50-day moving average price is $595.77 and its 200-day moving average price is $561.06.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company's quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.23 earnings per share. Equities analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson's payout ratio is 14.71%.

Analyst Upgrades and Downgrades

MCK has been the subject of several research analyst reports. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Morgan Stanley upped their target price 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 upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Finally, Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $646.14.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.11% of the stock is owned by insiders.

McKesson Company 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.