Maridea Wealth Management LLC Takes $433,000 Position in McKesson Co. (NYSE:MCK)

Maridea Wealth Management LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 760 shares of the company’s stock, valued at approximately $433,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC acquired a new stake in McKesson during the fourth quarter valued at $32,000. Crews Bank & Trust acquired a new position in McKesson in the 4th quarter worth about $33,000. Atala Financial Inc purchased a new stake in shares of McKesson during the 4th quarter worth about $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson during the 4th quarter valued at about $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $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 a total of 18,689 shares of company stock valued at $11,187,351 over the last ninety days. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research reports. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Price Performance

Shares of McKesson stock opened at $668.25 on Friday. The company has a market cap of $83.75 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The firm has a fifty day moving average price of $623.58 and a two-hundred day moving average price of $579.34. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $672.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. Analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid 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 0.42%. McKesson’s payout ratio is 13.00%.

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.