Flagship Wealth Advisors LLC Takes Position in McKesson Co. (NYSE:MCK)

Flagship Wealth Advisors LLC bought a new stake in McKesson Co. (NYSE:MCK) in the fourth quarter, HoldingsChannel reports. The fund bought 164 shares of the company’s stock, valued at approximately $93,000.

Other large investors have also modified their holdings of the company. Cibc World Market Inc. grew its stake in shares of McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after buying an additional 1,207 shares in the last quarter. Commerce Bank grew its stake in shares of McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after buying an additional 3,020 shares in the last quarter. West Oak Capital LLC grew its stake in shares of McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after buying an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new position in McKesson in the fourth quarter valued at about $3,018,000. Finally, Ingalls & Snyder LLC boosted its holdings in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.8 %

Shares of NYSE MCK opened at $655.32 on Tuesday. The company has a market cap of $82.13 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $663.62. The stock’s 50 day simple moving average is $610.04 and its 200 day simple moving average is $571.65.

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 the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCK. Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

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.