Heritage Wealth Management LLC Invests $1.54 Million in McKesson Co. (NYSE:MCK)

Heritage Wealth Management LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,322 shares of the company’s stock, valued at approximately $1,538,000. McKesson accounts for about 0.8% of Heritage Wealth Management LLC’s holdings, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its holdings in McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after buying an additional 708,438 shares in the last quarter. Morgan Stanley raised its stake in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Northern Trust Corp increased its holdings in shares of McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after acquiring an additional 50,265 shares in the last quarter. Boston Partners boosted its stake in McKesson by 12.5% in the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after purchasing an additional 133,351 shares in the last quarter. Finally, WCM Investment Management LLC grew its position in McKesson by 0.4% during the 4th quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock worth $500,134,000 after purchasing an additional 4,636 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.0 %

NYSE MCK traded up $0.02 during trading hours on Thursday, reaching $531.12. The company had a trading volume of 114,370 shares, compared to its average volume of 692,590. The stock has a market capitalization of $69.79 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45. The stock has a 50-day moving average of $529.73 and a 200 day moving average of $491.30. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $544.81.

McKesson (NYSE:MCK) last released 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 company had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same period in the prior year, the business earned $6.90 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. SVB Leerink initiated coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Citigroup raised their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays initiated coverage on shares of McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Finally, Morgan Stanley lifted their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.71.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed 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 dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The shares were 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 directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.