Buckley Wealth Management LLC Grows Stock Position in McKesson Co. (NYSE:MCK)

Buckley Wealth Management LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,235 shares of the company’s stock after purchasing an additional 30 shares during the quarter. Buckley Wealth Management LLC’s holdings in McKesson were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in shares of McKesson during the 4th quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the 3rd quarter valued at approximately $29,000. Crews Bank & Trust bought a new position in shares of McKesson during the 4th quarter valued at approximately $33,000. Atala Financial Inc bought a new position in shares of McKesson during the 4th quarter valued at approximately $34,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of McKesson during the 3rd quarter valued at approximately $31,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

NYSE MCK opened at $650.96 on Friday. The company has a market capitalization of $81.58 billion, a P/E ratio of 29.81, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $663.62. The stock has a 50 day moving average price of $608.54 and a 200-day moving average price of $570.71.

McKesson (NYSE:MCK) last posted its 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, equities analysts predict that McKesson Co. will post 32.77 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. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s payout ratio is presently 13.00%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the 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 sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,689 shares of company stock worth $11,187,351. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MCK. Wells Fargo & Company boosted their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

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.