Good Life Advisors LLC Raises Stake in McKesson Co. (NYSE:MCK)

Good Life Advisors LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 13.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,657 shares of the company’s stock after purchasing an additional 202 shares during the period. Good Life Advisors LLC’s holdings in McKesson were worth $767,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fairfield Bush & CO. acquired a new stake in shares of McKesson in the first quarter valued at about $46,000. Synovus Financial Corp grew its holdings in shares of McKesson by 4.0% during the first quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock worth $673,000 after buying an additional 85 shares in the last quarter. Prudential PLC purchased a new stake in McKesson in the first quarter valued at approximately $1,610,000. Cetera Investment Advisers grew its holdings in McKesson by 17.8% in the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock valued at $3,012,000 after purchasing an additional 1,490 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in McKesson in the first quarter valued at approximately $598,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the business’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 sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the business’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 sale, 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. Insiders sold a total of 17,685 shares of company stock valued at $8,646,498 in the last quarter. 0.21% of the stock is currently owned by insiders.

McKesson Trading Down 0.4 %

NYSE MCK traded down $2.41 during trading on Thursday, reaching $536.85. The company’s stock had a trading volume of 707,264 shares, compared to its average volume of 738,245. The stock has a market capitalization of $70.55 billion, a PE ratio of 24.30, a PEG ratio of 1.64 and a beta of 0.44. The business has a 50-day moving average price of $511.92 and a 200-day moving average price of $474.70. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $540.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the previous year, the firm posted $6.90 earnings per share. McKesson’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts expect that McKesson Co. will post 27.61 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MCK shares. Wells Fargo & Company started coverage on shares of McKesson in a research report on Thursday, December 14th. They issued an “equal weight” rating and a $502.00 price objective for the company. Citigroup raised their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. SVB Leerink started coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. TD Cowen raised their price target on shares of McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a report on Monday, December 11th. Finally, UBS Group raised their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $522.21.

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.