Commonwealth Equity Services LLC Buys 1,840 Shares of McKesson Co. (NYSE:MCK)

Commonwealth Equity Services LLC boosted its stake in McKesson Co. (NYSE:MCK) by 3.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 63,324 shares of the company’s stock after buying an additional 1,840 shares during the period. Commonwealth Equity Services LLC’s holdings in McKesson were worth $29,318,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MCK. Massachusetts Financial Services Co. MA raised its stake in McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares in the last quarter. Morgan Stanley boosted its stake in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after buying an additional 294,832 shares during the period. Northern Trust Corp boosted its stake in shares of McKesson by 3.3% in the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after buying an additional 50,265 shares during the period. Boston Partners grew its position in McKesson by 12.5% during the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after buying an additional 133,351 shares in the last quarter. Finally, WCM Investment Management LLC increased its stake in McKesson by 0.4% during the 4th quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock worth $500,134,000 after acquiring an additional 4,636 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

McKesson Stock Down 0.3 %

NYSE MCK opened at $528.86 on Monday. The company has a market cap of $69.50 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $544.81. The business’s fifty day moving average is $530.38 and its 200 day moving average is $492.60.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $6.90 earnings per share. On average, research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is 11.24%.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Morgan Stanley upped their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, UBS Group increased their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.71.

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.