Wealthspire Advisors LLC Has $717,000 Stake in McKesson Co. (NYSE:MCK)

Wealthspire Advisors LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,258 shares of the company’s stock after selling 325 shares during the quarter. Wealthspire Advisors LLC’s holdings in McKesson were worth $717,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares during the period. FMR LLC increased its stake in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. Geode Capital Management LLC raised its holdings in McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after buying an additional 26,299 shares during the period. The Manufacturers Life Insurance Company lifted its stake in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the period. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCK has been the subject of a number of research analyst reports. Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Wells Fargo & Company increased their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Morgan Stanley boosted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $645.79.

McKesson Trading Up 3.5 %

MCK opened at $626.99 on Wednesday. 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 $78.58 billion, a P/E ratio of 28.71, a PEG ratio of 1.29 and a beta of 0.52. The company’s 50 day moving average is $591.00 and its 200-day moving average is $562.63.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. On average, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,268 shares of company stock valued at $11,536,378 in the last quarter. 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.