Evercore Wealth Management LLC Has $11.21 Million Position in McKesson Co. (NYSE:MCK)

Evercore Wealth Management LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,668 shares of the company’s stock after purchasing an additional 730 shares during the quarter. Evercore Wealth Management LLC’s holdings in McKesson were worth $11,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. Millstone Evans Group LLC bought a new stake in McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter worth $32,000. Crews Bank & Trust bought a new stake in shares of McKesson in the fourth quarter worth $33,000. Atala Financial Inc acquired a new stake in McKesson in the fourth quarter valued at $34,000. Finally, Graney & King LLC bought a new position in McKesson during the 4th quarter worth $38,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % 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, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock worth $10,855,706 over the last three months. 0.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MCK shares. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup lowered their price target 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. Bank of America upped their price objective on shares of McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research note on Friday, April 11th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Three 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. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $668.50.

McKesson Price Performance

Shares of McKesson stock opened at $695.61 on Wednesday. The business has a 50-day simple moving average of $655.50 and a 200 day simple moving average of $603.03. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The firm has a market capitalization of $87.18 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate 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, sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) 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.