Pines Wealth Management LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Pines Wealth Management LLC acquired a new position in shares of McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,843 shares of the company's stock, valued at approximately $1,072,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MCK. Massachusetts Financial Services Co. MA raised its holdings in McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock worth $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. FMR LLC lifted 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 valued at $1,467,557,000 after buying an additional 438,423 shares during the period. Geode Capital Management LLC boosted its stake in shares of McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company's stock valued at $1,306,873,000 after buying an additional 26,299 shares in the last quarter. Legal & General Group Plc grew its stake in shares of McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock worth $757,862,000 after purchasing an additional 36,583 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of 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 purchasing an additional 425,875 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the firm'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 transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MCK shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. 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. Evercore ISI raised their price objective on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price on the stock. Finally, Bank of America reduced 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. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus target price of $646.14.

McKesson Stock Down 1.7 %

Shares of MCK stock traded down $10.22 during mid-day trading on Wednesday, hitting $583.51. 718,822 shares of the company's stock were exchanged, compared to its average volume of 650,944. The stock has a market cap of $74.07 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.25 and a beta of 0.52. The stock has a 50-day simple moving average of $595.09 and a two-hundred day simple moving average of $560.90. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

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.