Waldron Private Wealth LLC Raises Stake in McKesson Co. (NYSE:MCK)

Waldron Private Wealth LLC grew its stake in shares of McKesson Co. (NYSE:MCK) by 19.0% in the fourth quarter, Holdings Channel reports. The firm owned 907 shares of the company’s stock after acquiring an additional 145 shares during the period. Waldron Private Wealth LLC’s holdings in McKesson were worth $420,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Fairfield Bush & CO. purchased a new stake in McKesson in the first quarter worth about $46,000. Synovus Financial Corp lifted its stake in McKesson by 4.0% in the first quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock worth $673,000 after acquiring an additional 85 shares during the period. Prudential PLC purchased a new stake in McKesson in the first quarter worth about $1,610,000. Cetera Investment Advisers lifted its stake in McKesson by 17.8% in the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock worth $3,012,000 after acquiring an additional 1,490 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in McKesson in the first quarter worth about $598,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Down 0.1 %

MCK opened at $522.68 on Tuesday. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00. The company has a market cap of $68.69 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The firm’s 50-day moving average price is $523.34 and its 200-day moving average price is $484.53.

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

McKesson Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays initiated coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Mizuho boosted their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Morgan Stanley boosted their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

Insiders Place Their Bets

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

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.