Evercore Wealth Management LLC Has $11.21 Million Position in McKesson Co. (NYSE:MCK)

Evercore Wealth Management LLC grew its stake in McKesson Co. (NYSE:MCK - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,668 shares of the company's stock after acquiring an additional 730 shares during the quarter. Evercore Wealth Management LLC's holdings in McKesson were worth $11,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Frank Rimerman Advisors LLC raised its position in McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after acquiring an additional 17 shares in the last quarter. Old North State Trust LLC lifted its stake in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont grew its position in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after buying an additional 18 shares during the period. Hemington Wealth Management lifted its position in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after acquiring an additional 18 shares during the period. Finally, First Western Trust Bank boosted its stake in shares of McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after acquiring an additional 18 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MCK. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Wells Fargo & Company upped their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McKesson presently has an average rating of "Moderate Buy" and an average target price of $668.50.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

MCK stock traded up $1.03 on Monday, reaching $696.03. The company's stock had a trading volume of 240,370 shares, compared to its average volume of 890,552. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The company has a market capitalization of $87.23 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The firm has a fifty day moving average of $661.28 and a two-hundred day moving average of $607.86.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson's dividend payout ratio is 13.00%.

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.