McKesson Co. (NYSE:MCK) Stake Increased by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC grew its holdings in McKesson Co. (NYSE:MCK) by 473.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,089 shares of the company’s stock after purchasing an additional 5,028 shares during the period. Connecticut Wealth Management LLC’s holdings in McKesson were worth $2,819,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. International Assets Investment Management LLC raised its holdings in shares of McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after acquiring an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after buying an additional 708,438 shares during the last quarter. Morgan Stanley increased its position in McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in McKesson by 92.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after buying an additional 272,266 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in McKesson by 5,683.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock worth $104,178,000 after buying an additional 221,125 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on MCK. Citigroup increased their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho increased their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Argus raised their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, UBS Group raised their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $536.71.

Insider Activity

In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction 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 directly 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were 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 directly owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

McKesson Stock Performance

MCK traded down $1.41 during trading on Friday, reaching $528.86. 866,981 shares of the company’s stock were exchanged, compared to its average volume of 626,262. The company’s fifty day moving average price is $530.13 and its 200-day moving average price is $491.57. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $544.81. The firm has a market capitalization of $69.50 billion, a PE ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 7th. The company reported $7.74 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 firm had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the previous year, the business earned $6.90 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

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.