Signature Estate & Investment Advisors LLC Has $58.85 Million Stake in McKesson Co. (NYSE:MCK)

Signature Estate & Investment Advisors LLC increased its position in McKesson Co. (NYSE:MCK - Free Report) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,253 shares of the company's stock after acquiring an additional 683 shares during the quarter. McKesson comprises about 1.5% of Signature Estate & Investment Advisors LLC's investment portfolio, making the stock its 21st biggest position. Signature Estate & Investment Advisors LLC owned about 0.08% of McKesson worth $58,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Cerity Partners LLC raised its stake in shares of McKesson by 7.6% in the third quarter. Cerity Partners LLC now owns 44,224 shares of the company's stock valued at $21,867,000 after purchasing an additional 3,127 shares in the last quarter. Penserra Capital Management LLC lifted its position in McKesson by 21.7% during the 3rd quarter. Penserra Capital Management LLC now owns 1,075 shares of the company's stock worth $530,000 after buying an additional 192 shares in the last quarter. Larson Financial Group LLC raised its position in McKesson by 4.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,141 shares of the company's stock worth $564,000 after purchasing an additional 47 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in McKesson by 518.4% during the 3rd quarter. Centaurus Financial Inc. now owns 2,152 shares of the company's stock worth $1,064,000 after buying an additional 1,804 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its position in McKesson by 11.9% in the 3rd quarter. Summit Trail Advisors LLC now owns 1,401 shares of the company's stock valued at $693,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective on the stock. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Morgan Stanley upped their price objective on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Two investment 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $649.36.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

Shares of McKesson stock traded up $2.58 on Friday, reaching $668.25. 566,680 shares of the stock were exchanged, compared to its average volume of 837,100. McKesson Co. has a one year low of $464.42 and a one year high of $672.00. The firm has a market cap of $83.75 billion, a PE ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52. The firm's 50 day moving average is $623.58 and its 200-day moving average is $579.34.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share 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 expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. McKesson's dividend payout ratio is currently 13.00%.

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.