Transform Wealth LLC Boosts Position in McKesson Co. (NYSE:MCK)

Transform Wealth LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 13.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,828 shares of the company’s stock after purchasing an additional 2,798 shares during the period. Transform Wealth LLC’s holdings in McKesson were worth $13,595,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MCK shares. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

McKesson Stock Down 0.4 %

Shares of NYSE MCK opened at $592.69 on Tuesday. The firm’s 50-day moving average price is $594.65 and its two-hundred day moving average price is $561.08. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock has a market capitalization of $75.24 billion, a P/E ratio of 30.69, a P/E/G ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the business posted $6.23 EPS. The business’s revenue was up 21.3% on a year-over-year basis. As a group, equities research analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In related news, 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 sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.