Beverly Hills Private Wealth LLC Acquires Shares of 544 McKesson Co. (NYSE:MCK)

Beverly Hills Private Wealth LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 544 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Keystone Financial Services grew its holdings in McKesson by 2.1% during the fourth quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after buying an additional 24 shares in the last quarter. Koshinski Asset Management Inc. grew its position in McKesson by 1.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after purchasing an additional 25 shares in the last quarter. Austin Private Wealth LLC increased its stake in McKesson by 2.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock valued at $506,000 after buying an additional 27 shares during the last quarter. Quent Capital LLC lifted its position in shares of McKesson by 2.2% during the 4th quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock worth $574,000 after buying an additional 27 shares in the last quarter. Finally, Kanawha Capital Management LLC grew its holdings in shares of McKesson by 4.7% in the fourth quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock valued at $281,000 after acquiring an additional 27 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Mizuho upped their price objective on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Morgan Stanley boosted their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, Citigroup increased their target price on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Stock Down 0.1 %

McKesson stock opened at $522.68 on Tuesday. The stock has a market cap of $68.69 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.42 and a beta of 0.45. The business has a 50-day simple moving average of $523.34 and a 200 day simple moving average of $484.53. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the prior year, the business earned $6.90 earnings per share. McKesson’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company 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.