CreativeOne Wealth LLC Acquires 3,057 Shares of McKesson Co. (NYSE:MCK)

CreativeOne Wealth LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 46.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,670 shares of the company’s stock after acquiring an additional 3,057 shares during the quarter. CreativeOne Wealth LLC’s holdings in McKesson were worth $5,511,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its stake in shares of McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after buying an additional 17 shares in the last quarter. Old North State Trust LLC raised its holdings 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 acquiring an additional 18 shares during the last quarter. Trust Co. of Vermont lifted its position in McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares in the last quarter. Hemington Wealth Management boosted its stake in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after purchasing an additional 18 shares during the last quarter. Finally, First Western Trust Bank raised its stake in shares of McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was 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. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 188 shares of the firm’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 transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,110 shares of company stock valued at $10,855,706. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

MCK opened at $690.43 on Monday. The stock has a market cap of $86.53 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The firm’s fifty day moving average is $642.70 and its 200 day moving average is $593.86. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32.

McKesson (NYSE:MCK) last released its quarterly earnings data 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%. On average, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson’s dividend payout ratio is 13.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley lifted their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Bank of America increased their price objective on shares of McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $668.50.

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.