Axxcess Wealth Management LLC Has $1.24 Million Stock Position in McKesson Co. (NYSE:MCK)

Axxcess Wealth Management LLC lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,172 shares of the company’s stock after purchasing an additional 117 shares during the period. Axxcess Wealth Management LLC’s holdings in McKesson were worth $1,238,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Flagship Wealth Advisors LLC bought a new stake in McKesson in the fourth quarter valued at approximately $93,000. TCTC Holdings LLC boosted its stake in shares of McKesson by 20.0% in the 4th quarter. TCTC Holdings LLC now owns 120 shares of the company’s stock valued at $68,000 after purchasing an additional 20 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of McKesson during the fourth quarter worth $1,367,000. Signaturefd LLC raised its stake in McKesson by 3.9% during the fourth quarter. Signaturefd LLC now owns 4,102 shares of the company’s stock worth $2,338,000 after buying an additional 153 shares during the last quarter. Finally, Cibc World Markets Corp lifted its holdings in McKesson by 14.9% in the fourth quarter. Cibc World Markets Corp now owns 20,175 shares of the company’s stock valued at $11,498,000 after buying an additional 2,611 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $666.46 on Friday. The company has a market capitalization of $83.52 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $670.00. The business has a 50-day simple moving average of $614.59 and a two-hundred day simple moving average of $573.65.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS 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%. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 in the last quarter. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $649.36.

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.