Fifth Third Wealth Advisors LLC Raises Stock Holdings in McKesson Co. (NYSE:MCK)

Fifth Third Wealth Advisors LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 17.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 846 shares of the company’s stock after buying an additional 124 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in McKesson were worth $482,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the 3rd quarter worth approximately $29,000. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% during the third 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 period. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the third quarter valued at $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the 3rd quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC lifted 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 acquiring an additional 28 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MCK. Deutsche Bank Aktiengesellschaft cut their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Wells Fargo & Company increased their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Leerink Partners decreased their price target 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 McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

McKesson Stock Up 1.9 %

Shares of MCK opened at $594.62 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock has a 50 day moving average price of $595.77 and a 200 day moving average price of $561.06. The company has a market capitalization of $75.48 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

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

McKesson Dividend Announcement

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

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.