Commonwealth Equity Services LLC Has $29.32 Million Stock Position in McKesson Co. (NYSE:MCK)

Commonwealth Equity Services LLC increased its position in shares of McKesson Co. (NYSE:MCK) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,324 shares of the company’s stock after acquiring an additional 1,840 shares during the quarter. Commonwealth Equity Services LLC’s holdings in McKesson were worth $29,318,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its position in shares of McKesson by 1.3% in the third quarter. Stratos Wealth Partners LTD. now owns 2,275 shares of the company’s stock worth $989,000 after purchasing an additional 30 shares in the last quarter. Stratos Wealth Advisors LLC acquired a new stake in shares of McKesson during the 3rd quarter valued at $241,000. Independent Advisor Alliance grew its holdings in shares of McKesson by 7.7% during the 3rd quarter. Independent Advisor Alliance now owns 1,019 shares of the company’s stock valued at $443,000 after acquiring an additional 73 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of McKesson by 5.8% in the third quarter. Brown Advisory Inc. now owns 4,066 shares of the company’s stock worth $1,768,000 after acquiring an additional 222 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of McKesson by 12.5% during the third quarter. Lindbrook Capital LLC now owns 1,005 shares of the company’s stock worth $437,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on MCK shares. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Citigroup boosted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Mizuho raised their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, UBS Group increased their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $536.71.

Insider Buying and Selling at McKesson

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

McKesson Price Performance

MCK stock opened at $528.86 on Monday. The company has a 50-day moving average of $530.38 and a two-hundred day moving average of $492.60. The stock has a market capitalization of $69.50 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter last year, the firm posted $6.90 EPS. The company’s revenue was up 14.8% on a year-over-year basis. Equities analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

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.