Commonwealth Equity Services LLC Acquires 1,840 Shares of McKesson Co. (NYSE:MCK)

Commonwealth Equity Services LLC boosted its holdings in McKesson Co. (NYSE:MCK - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,324 shares of the company's stock after purchasing an additional 1,840 shares during the quarter. Commonwealth Equity Services LLC's holdings in McKesson were worth $29,318,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Heritage Wealth Management LLC bought a new position in McKesson during the 4th quarter valued at $1,538,000. Robertson Stephens Wealth Management LLC bought a new stake in shares of McKesson during the 4th quarter worth $212,000. First Trust Direct Indexing L.P. raised its stake in shares of McKesson by 22.0% during the 4th quarter. First Trust Direct Indexing L.P. now owns 5,332 shares of the company's stock worth $2,469,000 after purchasing an additional 962 shares during the period. Summit Financial LLC bought a new stake in shares of McKesson during the 4th quarter worth $244,000. Finally, Essex Financial Services Inc. raised its stake in shares of McKesson by 5.6% during the 4th quarter. Essex Financial Services Inc. now owns 2,882 shares of the company's stock worth $1,334,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on McKesson from $522.00 to $548.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. Argus lifted their target price on McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Mizuho lifted their price objective on McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. SVB Leerink began coverage on McKesson in a report on Monday, February 26th. They issued an "outperform" rating and a $600.00 price objective for the company. Finally, UBS Group lifted their price objective on McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $536.71.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the company'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 transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of the company'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 transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now 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 owned by corporate insiders.

McKesson Price Performance

MCK stock traded up $4.55 during mid-day trading on Monday, reaching $533.41. 634,119 shares of the company traded hands, compared to its average volume of 702,469. McKesson Co. has a 52-week low of $364.08 and a 52-week high of $544.81. The company has a fifty day moving average price of $530.38 and a 200-day moving average price of $492.60. The company has a market capitalization of $70.10 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion during 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. The business's revenue was up 14.8% on a year-over-year basis. As a group, analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson's dividend 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.