1,113 Shares in McKesson Co. (NYSE:MCK) Acquired by Meriwether Wealth & Planning LLC

Meriwether Wealth & Planning LLC acquired a new position in McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,113 shares of the company's stock, valued at approximately $634,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its position in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the period. The Manufacturers Life Insurance Company increased its holdings in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after buying an additional 425,875 shares during the period. Janus Henderson Group PLC increased its holdings in 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 buying an additional 321,119 shares during the period. Proficio Capital Partners LLC bought a new stake in McKesson in the 4th quarter valued at $178,397,000. Finally, Raymond James Financial Inc. bought a new stake in McKesson in the 4th quarter valued at $128,125,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on MCK shares. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Morgan Stanley boosted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Wells Fargo & Company upped their target price 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. 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, StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $645.79.

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McKesson Stock Performance

McKesson stock traded down $12.26 during trading hours on Wednesday, reaching $640.93. 694,919 shares of the company's stock traded hands, compared to its average volume of 819,051. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $663.61. The firm has a market capitalization of $80.32 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.29 and a beta of 0.52. The firm's 50 day moving average is $605.54 and its 200-day moving average is $569.47.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts predict 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. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's payout ratio is presently 13.00%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company's stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by insiders.

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.