LPL Financial LLC Grows Stock Holdings in McKesson Co. (NYSE:MCK)

LPL Financial LLC raised its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,196 shares of the company's stock after purchasing an additional 10,148 shares during the period. LPL Financial LLC owned approximately 0.11% of McKesson worth $78,759,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MCK. Penserra Capital Management LLC lifted its stake in shares of McKesson by 21.7% in the third 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. Fisher Asset Management LLC lifted its position in McKesson by 50.0% in the 3rd quarter. Fisher Asset Management LLC now owns 1,242 shares of the company's stock valued at $614,000 after acquiring an additional 414 shares in the last quarter. Independent Advisor Alliance boosted its stake in McKesson by 19.8% during the 3rd quarter. Independent Advisor Alliance now owns 1,568 shares of the company's stock valued at $775,000 after purchasing an additional 259 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of McKesson in the 3rd quarter worth $60,000. Finally, FMR LLC increased its holdings in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $649.36.

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McKesson Price Performance

Shares of NYSE MCK traded up $5.02 during midday trading on Monday, reaching $673.08. 167,072 shares of the stock traded hands, compared to its average volume of 834,485. The company's 50 day moving average is $623.58 and its 200 day moving average is $579.83. McKesson Co. has a one year low of $464.42 and a one year high of $676.89. The stock has a market capitalization of $84.35 billion, a PE ratio of 30.87, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last issued 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%. As a group, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.42%. McKesson's dividend payout ratio (DPR) is 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company's stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 in the last three months. Corporate insiders own 0.11% of the company's stock.

About McKesson

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.