Beverly Hills Private Wealth LLC Invests $252,000 in McKesson Co. (NYSE:MCK)

Beverly Hills Private Wealth LLC bought a new position in McKesson Co. (NYSE:MCK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 544 shares of the company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd lifted its holdings 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 buying an additional 34 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of McKesson in the third quarter valued at approximately $26,000. Legacy Financial Group LLC bought a new position in McKesson in the third quarter worth approximately $27,000. Live Oak Investment Partners bought a new stake in McKesson during the 4th quarter valued at $30,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of McKesson in the 4th quarter worth $31,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. Argus lifted their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Mizuho boosted their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Morgan Stanley increased their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup lifted their price objective on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, UBS Group upped their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $533.50.

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 completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated 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 of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

McKesson Price Performance

McKesson stock opened at $522.68 on Tuesday. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $543.00. The business has a fifty day moving average price of $523.34 and a 200-day moving average price of $484.53. The stock has a market capitalization of $68.69 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS 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 company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same period last year, the business posted $6.90 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio is presently 11.24%.

McKesson Company 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.