Axxcess Wealth Management LLC Has $1.24 Million Stock Position in McKesson Co. (NYSE:MCK)

Axxcess Wealth Management LLC increased its stake in McKesson Co. (NYSE:MCK) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,172 shares of the company’s stock after buying an additional 117 shares during the quarter. Axxcess Wealth Management LLC’s holdings in McKesson were worth $1,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the 3rd quarter valued at about $31,000. Synergy Asset Management LLC acquired a new stake in McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new stake in McKesson in the 4th quarter valued at about $33,000. Atala Financial Inc bought a new position in McKesson during the fourth quarter worth about $34,000. Finally, Creative Capital Management Investments LLC bought a new stake in McKesson in the fourth quarter valued at approximately $44,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

MCK opened at $666.46 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $670.00. The firm has a market cap of $83.52 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business’s fifty day moving average is $614.59 and its 200-day moving average is $573.65.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s payout ratio is 13.00%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Evercore ISI raised 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. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock worth $11,187,351 over the last 90 days. Insiders own 0.11% of the company’s stock.

McKesson Company 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.