Kestra Investment Management LLC Purchases Shares of 97 McKesson Co. (NYSE:MCK)

Kestra Investment Management LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 97 shares of the company’s stock, valued at approximately $55,000.

Several other institutional investors have also added to or reduced their stakes in MCK. Eastern Bank purchased a new stake in McKesson during the third quarter valued at about $258,000. Commerzbank Aktiengesellschaft FI boosted its position in McKesson by 50.0% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 627 shares of the company’s stock valued at $311,000 after buying an additional 209 shares during the period. Courier Capital LLC boosted its position in McKesson by 10.3% during the third quarter. Courier Capital LLC now owns 1,075 shares of the company’s stock valued at $532,000 after buying an additional 100 shares during the period. International Assets Investment Management LLC boosted its position in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after buying an additional 734,849 shares during the period. Finally, Dakota Wealth Management boosted its holdings in shares of McKesson by 9.1% during the third quarter. Dakota Wealth Management now owns 1,539 shares of the company’s stock worth $761,000 after purchasing an additional 128 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MCK shares. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Citigroup dropped their target price 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. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Performance

Shares of NYSE MCK opened at $597.68 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a 50 day simple moving average of $589.02 and a two-hundred day simple moving average of $562.38. The company has a market capitalization of $74.91 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,307 shares of company stock valued at $6,177,790. Corporate insiders own 0.11% of the company’s stock.

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.