Steward Partners Investment Advisory LLC Buys 506 Shares of McKesson Co. (NYSE:MCK)

Steward Partners Investment Advisory LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 10.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,418 shares of the company’s stock after acquiring an additional 506 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in McKesson were worth $3,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. MidAtlantic Capital Management Inc. bought a new position in McKesson in the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the 3rd quarter valued at about $31,000. Synergy Asset Management LLC bought a new position in shares of McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new position in shares of McKesson in the fourth quarter worth approximately $33,000. Finally, Creative Capital Management Investments LLC bought a new stake in McKesson during the fourth quarter valued at approximately $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MCK. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Finally, Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock worth $11,536,378 in the last quarter. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

McKesson stock opened at $644.92 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $653.92. The firm’s 50 day moving average price is $600.67 and its 200-day moving average price is $567.36. The stock has a market cap of $80.82 billion, a P/E ratio of 29.53, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. As a group, equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a 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.