SeaCrest Wealth Management LLC Increases Stock Position in McKesson Co. (NYSE:MCK)

SeaCrest Wealth Management LLC boosted its position in McKesson Co. (NYSE:MCK) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,339 shares of the company’s stock after buying an additional 95 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in McKesson were worth $1,118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. OFI Invest Asset Management acquired a new position in McKesson in the third quarter worth about $26,000. Legacy Financial Group LLC acquired a new stake in McKesson during the third quarter valued at approximately $27,000. Live Oak Investment Partners acquired a new position in shares of McKesson in the 4th quarter worth approximately $30,000. Finally, BKM Wealth Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MCK. Wells Fargo & Company started coverage on shares of McKesson in a research note on Thursday, December 14th. They set an “equal weight” rating and a $502.00 target price for the company. UBS Group boosted their price objective on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Barclays started coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target on the stock. Mizuho raised their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, TD Cowen lifted their price objective on shares of McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a research note on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $522.21.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was 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 directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a filing with the SEC, which can be accessed 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 transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders sold a total of 17,685 shares of company stock worth $8,646,498 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.

McKesson Stock Down 0.4 %

Shares of MCK stock traded down $2.41 during trading hours on Friday, reaching $536.85. 751,796 shares of the stock traded hands, compared to its average volume of 701,817. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $540.00. The firm has a market capitalization of $70.55 billion, a PE ratio of 24.32, a PEG ratio of 1.65 and a beta of 0.44. The business has a fifty day moving average price of $512.99 and a 200 day moving average price of $475.15.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating 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 the consensus estimate of $77.93 billion. During the same quarter in the previous year, the company posted $6.90 earnings per share. McKesson’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 27.61 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, February 29th. McKesson’s payout ratio is presently 11.24%.

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.