Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Stock Position in McKesson Co. (NYSE:MCK)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in McKesson Co. (NYSE:MCK) by 13.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 31,801 shares of the company’s stock after acquiring an additional 3,731 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in McKesson were worth $18,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC grew its position in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the third quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC boosted its position in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.0 %

NYSE MCK opened at $591.47 on Monday. The stock has a 50-day moving average of $592.65 and a 200-day moving average of $561.31. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The firm has a market cap of $75.08 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the business earned $6.23 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

About McKesson

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.