Maridea Wealth Management LLC Invests $433,000 in McKesson Co. (NYSE:MCK)

Maridea Wealth Management LLC bought a new stake in McKesson Co. (NYSE:MCK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 760 shares of the company's stock, valued at approximately $433,000.

Other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in shares of McKesson by 50.0% in the third quarter. Fisher Asset Management LLC now owns 1,242 shares of the company's stock valued at $614,000 after purchasing an additional 414 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of McKesson by 20.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554 shares of the company's stock valued at $274,000 after buying an additional 94 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of McKesson by 18.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company's stock valued at $2,807,000 after acquiring an additional 900 shares in the last quarter. Financial Counselors Inc. increased its stake in McKesson by 4.4% in the third quarter. Financial Counselors Inc. now owns 916 shares of the company's stock valued at $453,000 after acquiring an additional 39 shares during the period. Finally, Isthmus Partners LLC acquired a new position in McKesson in the third quarter worth about $504,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value 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 approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last quarter. Company insiders own 0.11% of the company's stock.

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McKesson Price Performance

Shares of MCK stock traded up $20.43 during trading hours on Wednesday, reaching $694.12. The company had a trading volume of 1,202,174 shares, compared to its average volume of 839,696. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $698.76. The company has a 50 day moving average of $626.97 and a 200 day moving average of $582.06. The firm has a market cap of $86.99 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. 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 is 13.00%.

Analysts Set New Price Targets

Several analysts recently commented on the company. 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. Morgan Stanley upped their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday. Evercore ISI lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Finally, Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective for the company. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $656.71.

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.