McKesson Co. (NYSE:MCK) Position Lifted by Segment Wealth Management LLC

Segment Wealth Management LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,628 shares of the company’s stock after purchasing an additional 366 shares during the period. McKesson comprises about 1.2% of Segment Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Segment Wealth Management LLC’s holdings in McKesson were worth $18,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. Thrivent Financial for Lutherans boosted its position in shares of McKesson by 5.5% during the second quarter. Thrivent Financial for Lutherans now owns 19,036 shares of the company’s stock worth $11,117,000 after buying an additional 998 shares during the period. Westwood Holdings Group Inc. bought a new stake in shares of McKesson during the 2nd quarter worth $2,596,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of McKesson by 21.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,545 shares of the company’s stock valued at $7,911,000 after purchasing an additional 2,363 shares during the period. Kowal Investment Group LLC raised its holdings in shares of McKesson by 6.5% during the second quarter. Kowal Investment Group LLC now owns 474 shares of the company’s stock valued at $277,000 after acquiring an additional 29 shares during the period. Finally, Frank Rimerman Advisors LLC grew its holdings in shares of McKesson by 14,900.0% during the second quarter. Frank Rimerman Advisors LLC now owns 900 shares of the company’s stock valued at $526,000 after buying an additional 894 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Down 0.4 %

McKesson stock opened at $592.69 on Tuesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a market cap of $75.24 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 1.28 and a beta of 0.52. The business’s 50-day simple moving average is $595.11 and its 200 day simple moving average is $561.01.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $6.23 earnings per share. As a group, sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCK. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI lifted their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

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.