Sound View Wealth Advisors Group LLC Purchases Shares of 384 McKesson Co. (NYSE:MCK)

Sound View Wealth Advisors Group LLC acquired a new position in McKesson Co. (NYSE:MCK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 384 shares of the company's stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its stake 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 buying an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after acquiring an additional 425,875 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock worth $283,903,000 after purchasing an additional 321,119 shares during the last quarter. Proficio Capital Partners LLC bought a new position in McKesson in the 4th quarter worth about $178,397,000. Finally, Raymond James Financial Inc. bought a new stake in McKesson during the 4th quarter valued at about $128,125,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Morgan Stanley increased 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. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company increased their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $645.79.

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Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,689 shares of company stock worth $11,187,351. Insiders own 0.11% of the company's stock.

McKesson Stock Performance

MCK stock traded down $12.47 during mid-day trading on Wednesday, reaching $640.73. 336,421 shares of the stock traded hands, compared to its average volume of 811,125. McKesson Co. has a one year low of $464.42 and a one year high of $663.61. The stock has a market capitalization of $80.30 billion, a PE ratio of 29.34, a PEG ratio of 1.29 and a beta of 0.52. The business has a 50-day moving average price of $604.12 and a two-hundred day moving average price of $568.96.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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%. On average, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared 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 dividend on an annualized basis 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%.

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.