Kestra Private Wealth Services LLC Has $2.61 Million Holdings in McKesson Co. (NYSE:MCK)

Kestra Private Wealth Services LLC raised its stake in shares of McKesson Co. (NYSE:MCK) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,578 shares of the company’s stock after buying an additional 319 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in McKesson were worth $2,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Old North State Trust LLC grew its stake in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after acquiring an additional 18 shares during the period. Trust Co. of Vermont grew its position in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the period. Black Diamond Financial LLC increased its stake in McKesson by 1.3% during the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares in the last quarter. QV Investors Inc. raised its holdings in McKesson by 0.6% during the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after buying an additional 20 shares during the period. Finally, Calamos Wealth Management LLC lifted its stake in McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after buying an additional 20 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 1.2 %

Shares of NYSE MCK opened at $610.57 on Wednesday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company has a market cap of $77.51 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The business’s 50 day moving average price is $588.04 and its two-hundred day moving average price is $562.60.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, research analysts anticipate that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, 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. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $645.79.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by 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.