FAS Wealth Partners Inc. Acquires New Shares in McKesson Co. (NYSE:MCK)

FAS Wealth Partners Inc. acquired a new stake in McKesson Co. (NYSE:MCKFree Report) in the 4th quarter, Holdings Channel.com reports. The fund acquired 579 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Legacy Financial Group LLC acquired a new stake in McKesson during the 3rd quarter valued at approximately $27,000. OFI Invest Asset Management acquired a new position in McKesson in the third quarter valued at $26,000. BKM Wealth Management LLC bought a new stake in McKesson during the fourth quarter valued at $31,000. Live Oak Investment Partners acquired a new stake in McKesson during the fourth quarter worth approximately $30,000. Finally, Covestor Ltd increased its stake in shares of McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

MCK opened at $533.27 on Wednesday. The stock’s 50 day simple moving average is $515.89 and its 200 day simple moving average is $477.96. The firm has a market cap of $70.08 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.46 and a beta of 0.45. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $540.00.

McKesson (NYSE:MCKGet Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter last year, the business earned $6.90 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that McKesson Co. will post 27.61 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is 11.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MCK. Citigroup upped their target price on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. TD Cowen boosted their target price on McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a research note on Monday, December 11th. Mizuho raised their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Wells Fargo & Company started coverage on McKesson in a research report on Thursday, December 14th. They set an “equal weight” rating and a $502.00 price target on the stock. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $522.21.

Check Out Our Latest Report on McKesson

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

About McKesson

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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