Kingsview Wealth Management LLC Buys 283 Shares of McKesson Co. (NYSE:MCK)

Kingsview Wealth Management LLC boosted its stake in shares of McKesson Co. (NYSE:MCK – Get Rating) by 12.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,593 shares of the company’s stock after buying an additional 283 shares during the period. Kingsview Wealth Management LLC’s holdings in McKesson were worth $881,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its position in McKesson by 1.0% during the 2nd quarter. State Street Corp now owns 6,611,727 shares of the company’s stock valued at $2,159,803,000 after buying an additional 67,443 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of McKesson by 13.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,186,592 shares of the company’s stock worth $403,287,000 after purchasing an additional 137,396 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of McKesson by 53.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after purchasing an additional 320,588 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of McKesson in the 3rd quarter worth $302,630,000. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of McKesson by 7.2% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 662,829 shares of the company’s stock worth $225,276,000 after purchasing an additional 44,308 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 7,416 shares of McKesson stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $380.00, for a total transaction of $2,818,080.00. Following the transaction, the chief executive officer now directly owns 75,737 shares in the company, valued at $28,780,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nancy Avila sold 161 shares of the business’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the transaction, the executive vice president now directly owns 4,631 shares in the company, valued at $1,713,562.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 7,416 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the transaction, the chief executive officer now owns 75,737 shares in the company, valued at $28,780,060. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MCK shares. UBS Group reduced their target price on McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a report on Tuesday, January 31st. Morgan Stanley lifted their price objective on McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Finally, Robert W. Baird lifted their price objective on McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $416.30.

McKesson Stock Performance

NYSE MCK opened at $336.50 on Wednesday. The company has a market capitalization of $46.08 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.25 and a beta of 0.59. The business’s fifty day moving average is $365.26 and its 200 day moving average is $366.97. McKesson Co. has a fifty-two week low of $283.88 and a fifty-two week high of $401.78.

McKesson (NYSE:MCK – Get Rating) last released its earnings results on Wednesday, February 1st. The company reported $6.90 earnings per share for the quarter, beating the consensus estimate of $6.36 by $0.54. The company had revenue of $70.49 billion for the quarter, compared to the consensus estimate of $70.98 billion. McKesson had a negative return on equity of 216.12% and a net margin of 1.15%. McKesson’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $6.15 earnings per share. On average, sell-side analysts forecast that McKesson Co. will post 25.93 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $2.16 annualized dividend and a yield of 0.64%. McKesson’s dividend payout ratio (DPR) is presently 9.88%.

About McKesson

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).