Seaside Wealth Management Inc. Buys Shares of 378 McKesson Co. (NYSE:MCK)

Seaside Wealth Management Inc. acquired a new stake in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 378 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also recently made changes to their positions in MCK. Oppenheimer Asset Management Inc. lifted its holdings in shares of McKesson by 140.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company’s stock valued at $1,747,000 after purchasing an additional 1,747 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of McKesson by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 395,150 shares of the company’s stock worth $230,821,000 after acquiring an additional 21,832 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of McKesson by 0.3% during the second quarter. Mutual of America Capital Management LLC now owns 20,394 shares of the company’s stock valued at $11,911,000 after acquiring an additional 63 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of McKesson by 16.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 65,412 shares of the company’s stock worth $38,176,000 after buying an additional 9,263 shares during the last quarter. Finally, Waterloo Capital L.P. purchased a new stake in shares of McKesson during the second quarter valued at $246,000. 85.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $594.62 on Friday. The business has a 50 day simple moving average of $595.77 and a two-hundred day simple moving average of $561.06. The stock has a market capitalization of $75.48 billion, a P/E ratio of 30.79, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share 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 analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.23 EPS. As a group, research analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have weighed in on MCK. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $646.14.

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.