500 Shares in McKesson Co. (NYSE:MCK) Acquired by Genesis Private Wealth LLC

Genesis Private Wealth LLC acquired a new stake in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 500 shares of the company's stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. Old North State Trust LLC grew its stake 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 purchasing an additional 18 shares during the last quarter. Trust Co. of Vermont grew its position in McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after buying an additional 18 shares during the last quarter. Black Diamond Financial LLC increased its stake in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock valued at $754,000 after buying an additional 19 shares during the period. QV Investors Inc. raised its position in McKesson by 0.6% during the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company's stock worth $1,730,000 after buying an additional 20 shares during the last quarter. Finally, ASB Consultores LLC lifted its stake in shares of McKesson by 2.4% in the 3rd quarter. ASB Consultores LLC now owns 879 shares of the company's stock worth $435,000 after acquiring an additional 21 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MCK shares. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Leerink Partners decreased their target price on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, Evercore ISI raised their price objective on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $646.14.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company's stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

MCK traded down $1.65 during trading hours on Wednesday, reaching $584.44. 651,786 shares of the stock traded hands, compared to its average volume of 667,497. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a market cap of $74.19 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 1.28 and a beta of 0.52. The firm's fifty day simple moving average is $594.00 and its two-hundred day simple moving average is $561.06.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 0.77% and a negative return on equity of 207.50%. The firm's quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $6.23 earnings per share. On average, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson's dividend payout ratio is presently 14.71%.

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.