MGB Wealth Management LLC Increases Position in McKesson Co. (NYSE:MCK)

MGB Wealth Management LLC increased its position in shares of McKesson Co. (NYSE:MCK) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,395 shares of the company’s stock after purchasing an additional 39 shares during the period. MGB Wealth Management LLC’s holdings in McKesson were worth $1,935,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Old North State Trust LLC boosted its stake in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont lifted its holdings in shares of McKesson by 4.8% in 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 in the last quarter. Hemington Wealth Management boosted its position in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares during the last quarter. Black Diamond Financial LLC grew its stake in McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after acquiring an additional 19 shares in the last quarter. Finally, QV Investors Inc. increased its holdings in McKesson by 0.6% in the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $595.24 on Thursday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The company has a market cap of $75.56 billion, a P/E ratio of 27.25, a PEG ratio of 1.30 and a beta of 0.52. The firm has a 50-day simple moving average of $587.89 and a two-hundred day simple moving average of $562.68.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 research analysts expect that McKesson Co. will post 32.69 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s payout ratio is 13.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, McKesson has a consensus rating of “Buy” and an average price target of $645.79.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by corporate 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.