MGB Wealth Management LLC Acquires 39 Shares of McKesson Co. (NYSE:MCK)

MGB Wealth Management LLC increased its holdings in McKesson Co. (NYSE:MCK) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,395 shares of the company’s stock after purchasing an additional 39 shares during the quarter. MGB Wealth Management LLC’s holdings in McKesson were worth $1,935,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MCK. ORG Wealth Partners LLC purchased a new stake in shares of McKesson during the third quarter valued at about $40,000. CX Institutional grew its position in shares of McKesson by 175.8% in the 3rd quarter. CX Institutional now owns 10,228 shares of the company’s stock worth $5,057,000 after buying an additional 6,519 shares during the last quarter. Creative Planning raised its stake in shares of McKesson by 2.1% during the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock worth $31,064,000 after acquiring an additional 1,316 shares in the last quarter. QV Investors Inc. lifted its position in McKesson by 0.6% during the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after acquiring an additional 20 shares during the last quarter. Finally, Kapitalo Investimentos Ltda boosted its stake in McKesson by 68.5% in the third quarter. Kapitalo Investimentos Ltda now owns 723 shares of the company’s stock valued at $357,000 after acquiring an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $595.24 on Thursday. The firm has a market capitalization of $75.56 billion, a P/E ratio of 27.25, a PEG ratio of 1.30 and a beta of 0.52. The company’s fifty day moving average price is $587.89 and its 200-day moving average price is $562.68. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 net margin of 0.82% and a negative return on equity of 181.26%. Equities analysts anticipate that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is presently 13.00%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on 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 transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MCK shares. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, McKesson has an average rating of “Buy” and an average price target of $645.79.

McKesson Company 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.