Beaumont Financial Advisors LLC Acquires New Holdings in McKesson Co. (NYSE:MCK)

Beaumont Financial Advisors LLC acquired a new stake in McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 399 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new position in McKesson in the 3rd quarter worth approximately $40,000. Finally, Bruce G. Allen Investments LLC increased its position in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after buying an additional 28 shares during the period. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on MCK. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Leerink Partners decreased their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the business’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 completion of the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $597.31 on Friday. The firm has a market cap of $75.82 billion, a P/E ratio of 30.93, a P/E/G ratio of 1.27 and a beta of 0.52. The business’s fifty day moving average is $593.20 and its two-hundred day moving average is $561.23. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping 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 business’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.23 earnings per share. On average, equities research analysts predict that McKesson Co. will post 32.73 earnings per share for the current 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 paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

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.