Mission Wealth Management LP Increases Stake in McKesson Co. (NYSE:MCK)

Mission Wealth Management LP grew its position in McKesson Co. (NYSE:MCK) by 49.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,486 shares of the company’s stock after acquiring an additional 823 shares during the period. Mission Wealth Management LP’s holdings in McKesson were worth $1,417,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after buying an additional 138,685 shares in the last quarter. FMR LLC grew its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the period. Geode Capital Management LLC increased its holdings in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the period. Finally, Nordea Investment Management AB raised its position in McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $645.34 on Tuesday. The stock’s 50-day moving average is $595.50 and its two-hundred day moving average is $564.96. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $648.47. The firm has a market cap of $80.88 billion, a price-to-earnings ratio of 29.55, 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s payout ratio is 13.00%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,268 shares of company stock worth $11,536,378 in the last 90 days. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company raised their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.