McKesson Co. (NYSE:MCK) Shares Acquired by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC grew its stake in shares of McKesson Co. (NYSE:MCK) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,253 shares of the company’s stock after purchasing an additional 683 shares during the period. McKesson comprises about 1.5% of Signature Estate & Investment Advisors LLC’s holdings, making the stock its 21st biggest holding. Signature Estate & Investment Advisors LLC owned 0.08% of McKesson worth $58,845,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Millstone Evans Group LLC acquired a new position in shares of McKesson in the fourth quarter worth about $28,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC purchased a new position in McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter valued at $33,000. Finally, Atala Financial Inc purchased a new stake in shares of McKesson in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 0.1 %

Shares of McKesson stock opened at $661.56 on Tuesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $670.79. The stock has a market capitalization of $82.91 billion, a P/E ratio of 30.29, a PEG ratio of 1.29 and a beta of 0.52. The stock has a 50 day moving average price of $617.68 and a two-hundred day moving average price of $575.39.

McKesson (NYSE:MCK) last posted its 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%. Sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MCK shares. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $649.36.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by company insiders.

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.