McKesson Co. (NYSE:MCK) Stock Position Raised by LPL Financial LLC

LPL Financial LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,196 shares of the company’s stock after purchasing an additional 10,148 shares during the period. LPL Financial LLC owned approximately 0.11% of McKesson worth $78,759,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MCK. Millstone Evans Group LLC acquired a new stake in McKesson during the 4th quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the third quarter valued at $31,000. Synergy Asset Management LLC purchased a new stake in McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter worth about $33,000. Finally, Atala Financial Inc purchased a new position in McKesson during the 4th quarter valued at about $34,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by company insiders.

Analyst Ratings Changes

MCK has been the subject of several research reports. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley boosted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two investment 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 company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Trading Down 0.2 %

Shares of McKesson stock opened at $662.45 on Thursday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $670.79. The firm has a fifty day simple moving average of $620.63 and a 200-day simple moving average of $577.10. The stock has a market capitalization of $83.02 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released 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, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.