TruWealth Advisors LLC Increases Holdings in McKesson Co. (NYSE:MCK)

TruWealth Advisors LLC increased its stake in McKesson Co. (NYSE:MCK) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,073 shares of the company’s stock after acquiring an additional 90 shares during the period. TruWealth Advisors LLC’s holdings in McKesson were worth $612,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MCK. Ieq Capital LLC raised its holdings in McKesson by 12.5% during the 2nd quarter. Ieq Capital LLC now owns 7,761 shares of the company’s stock valued at $4,532,000 after buying an additional 861 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of McKesson by 6.2% in the second quarter. Canada Pension Plan Investment Board now owns 264,335 shares of the company’s stock valued at $154,382,000 after acquiring an additional 15,423 shares during the period. King Luther Capital Management Corp lifted its holdings in shares of McKesson by 1,279.3% in the 2nd quarter. King Luther Capital Management Corp now owns 14,359 shares of the company’s stock worth $8,386,000 after acquiring an additional 13,318 shares during the last quarter. AE Wealth Management LLC boosted its stake in shares of McKesson by 38.7% during the 2nd quarter. AE Wealth Management LLC now owns 7,951 shares of the company’s stock worth $4,644,000 after purchasing an additional 2,217 shares during the period. Finally, Sei Investments Co. grew its holdings in McKesson by 6.1% during the 2nd quarter. Sei Investments Co. now owns 180,886 shares of the company’s stock valued at $105,642,000 after purchasing an additional 10,456 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $592.69 on Friday. The company has a market cap of $75.24 billion, a PE ratio of 30.69, a P/E/G ratio of 1.26 and a beta of 0.52. The firm’s 50 day moving average price is $595.11 and its 200-day moving average price is $561.34. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.23 EPS. On average, analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced 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 dividend payout ratio is presently 14.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on MCK. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Evercore ISI increased their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

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.