Mission Wealth Management LP Has $808,000 Stock Position in McKesson Co. (NYSE:MCK)

Mission Wealth Management LP increased its stake in shares of McKesson Co. (NYSE:MCK) by 19.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,746 shares of the company’s stock after acquiring an additional 285 shares during the quarter. Mission Wealth Management LP’s holdings in McKesson were worth $808,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MCK. Legacy Financial Group LLC bought a new stake in McKesson during the 3rd quarter worth about $27,000. OFI Invest Asset Management bought a new position in McKesson in the third quarter valued at approximately $26,000. BKM Wealth Management LLC acquired a new stake in McKesson during the 4th quarter worth $31,000. WASHINGTON TRUST Co raised its position in shares of McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares during the last quarter. Finally, Milestone Investment Advisors LLC acquired a new position in shares of McKesson in the 3rd quarter valued at $61,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCK. Mizuho boosted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. UBS Group increased their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Barclays initiated coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective on the stock. SVB Leerink assumed coverage on McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. Finally, Argus lifted their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $536.71.

McKesson Trading Down 1.1 %

NYSE MCK opened at $531.21 on Thursday. The firm’s fifty day moving average price is $529.73 and its two-hundred day moving average price is $491.30. The firm has a market capitalization of $69.81 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $544.81.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio is presently 11.24%.

Insider Transactions at McKesson

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