Johnson Investment Counsel Inc. Has $1.19 Million Holdings in McKesson Co. (NYSE:MCK)

Johnson Investment Counsel Inc. boosted its stake in shares of McKesson Co. (NYSE:MCK) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,090 shares of the company’s stock after buying an additional 61 shares during the period. Johnson Investment Counsel Inc.’s holdings in McKesson were worth $1,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. CWA Asset Management Group LLC acquired a new stake in McKesson during the 3rd quarter worth about $416,000. Assetmark Inc. raised its holdings in McKesson by 10.8% during the 3rd quarter. Assetmark Inc. now owns 6,884 shares of the company’s stock worth $3,403,000 after buying an additional 670 shares during the period. Axxcess Wealth Management LLC raised its holdings in McKesson by 198.7% during the 3rd quarter. Axxcess Wealth Management LLC now owns 2,055 shares of the company’s stock worth $1,016,000 after buying an additional 1,367 shares during the period. Baker Avenue Asset Management LP raised its holdings in McKesson by 34.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 557 shares of the company’s stock worth $276,000 after buying an additional 143 shares during the period. Finally, Chartwell Investment Partners LLC acquired a new stake in McKesson during the 3rd quarter worth about $3,856,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $494,890.56. This represents 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 available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of NYSE MCK opened at $653.54 on Wednesday. The stock has a market cap of $81.91 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.29 and a beta of 0.52. The business has a 50 day simple moving average of $604.12 and a 200 day simple moving average of $568.96. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $663.61.

McKesson (NYSE:MCK) last announced its 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. McKesson’s payout ratio is currently 13.00%.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Two equities 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, McKesson currently has an average rating of “Moderate Buy” and an average price target of $645.79.

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.