McKesson Co. (NYSE:MCK) Shares Bought by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC grew its stake in McKesson Co. (NYSE:MCK) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,251 shares of the company’s stock after purchasing an additional 36 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in McKesson were worth $713,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson in the third quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in McKesson in the 3rd quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC boosted its stake in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 2.2 %

Shares of NYSE MCK opened at $597.31 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a market cap of $75.82 billion, a P/E ratio of 30.93, a PEG ratio of 1.27 and a beta of 0.52. The business’s fifty day simple moving average is $593.20 and its 200-day simple moving average is $561.23.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the business posted $6.23 EPS. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCK. Leerink Partners reduced their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Evercore ISI boosted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $646.14.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

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.