HB Wealth Management LLC Acquires 709 Shares of McKesson Co. (NYSE:MCK)

HB Wealth Management LLC increased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,538 shares of the company's stock after acquiring an additional 709 shares during the quarter. HB Wealth Management LLC's holdings in McKesson were worth $4,296,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in shares of McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock worth $398,937,000 after purchasing an additional 734,849 shares in the last quarter. FMR LLC grew its position in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock worth $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock valued at $283,903,000 after acquiring an additional 321,119 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after purchasing an additional 162,688 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of NYSE MCK traded down $2.50 during mid-day trading on Friday, reaching $592.69. 686,346 shares of the company's stock were exchanged, compared to its average volume of 622,630. The firm has a 50-day moving average price of $595.11 and a two-hundred day moving average price of $561.17. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The firm has a market capitalization of $75.24 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

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

McKesson Announces Dividend

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

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MCK. Evercore ISI upped their price target on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. Morgan Stanley raised 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus target price of $646.14.

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.