Wedmont Private Capital Acquires 179 Shares of McKesson Co. (NYSE:MCK)

Wedmont Private Capital increased its holdings in shares of McKesson Co. (NYSE:MCK) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,003 shares of the company’s stock after purchasing an additional 179 shares during the quarter. Wedmont Private Capital’s holdings in McKesson were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares during the period. FMR LLC boosted its holdings in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. Geode Capital Management LLC grew its position in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the period. Legal & General Group Plc raised its stake in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after buying an additional 36,583 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 0.5 %

NYSE MCK opened at $584.62 on Tuesday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The stock’s 50 day moving average is $593.71 and its 200 day moving average is $560.83. The stock has a market cap of $74.21 billion, a PE ratio of 30.28, a P/E/G ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.23 earnings per share. On average, analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Leerink Partners cut their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $646.14.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by corporate insiders.

About McKesson

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.