Kestra Investment Management LLC Purchases New Position in McKesson Co. (NYSE:MCK)

Kestra Investment Management LLC bought a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 97 shares of the company’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. boosted its holdings in McKesson by 3.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 8,635 shares of the company’s stock worth $4,926,000 after purchasing an additional 250 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in McKesson by 3.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,632 shares of the company’s stock worth $1,500,000 after purchasing an additional 80 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in McKesson by 5.1% in the fourth quarter. D.A. Davidson & CO. now owns 6,060 shares of the company’s stock worth $3,454,000 after purchasing an additional 293 shares during the last quarter. Human Investing LLC purchased a new stake in McKesson in the fourth quarter worth approximately $115,000. Finally, Principal Financial Group Inc. boosted its holdings in McKesson by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 284,648 shares of the company’s stock worth $162,224,000 after purchasing an additional 7,515 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction 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 directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,307 shares of company stock worth $6,177,790. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

MCK opened at $597.68 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm’s fifty day moving average is $589.02 and its 200 day moving average is $562.38. The stock has a market cap of $74.91 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business 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 $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio is currently 13.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MCK shares. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup dropped 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. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Bank of America dropped their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $645.79.

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.