Austin Private Wealth LLC Buys 27 Shares of McKesson Co. (NYSE:MCK)

Austin Private Wealth LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,094 shares of the company’s stock after purchasing an additional 27 shares during the period. Austin Private Wealth LLC’s holdings in McKesson were worth $506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Raymond James & Associates increased its position in shares of McKesson by 6.1% during the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Insight Wealth Strategies LLC bought a new position in McKesson in the fourth quarter worth approximately $1,813,000. Aspire Private Capital LLC boosted its stake in shares of McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after acquiring an additional 60 shares during the last quarter. Nordea Investment Management AB grew its position in shares of McKesson by 5.7% during the 4th quarter. Nordea Investment Management AB now owns 756,560 shares of the company’s stock valued at $350,734,000 after acquiring an additional 40,907 shares during the period. Finally, LPL Financial LLC increased its stake in shares of McKesson by 8.3% in the 3rd quarter. LPL Financial LLC now owns 86,130 shares of the company’s stock worth $37,454,000 after purchasing an additional 6,571 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 14,026 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $20,853,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $20,853,600. The disclosure for this sale can be found here. Insiders sold 17,685 shares of company stock valued at $8,646,498 in the last three months. Corporate insiders own 0.21% of the company’s stock.

McKesson Stock Down 0.4 %

Shares of McKesson stock opened at $536.85 on Friday. The firm has a market cap of $70.55 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.65 and a beta of 0.44. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $540.00. The business has a 50-day moving average price of $512.99 and a 200-day moving average price of $475.15.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.90 EPS. On average, equities analysts expect that McKesson Co. will post 27.61 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. Mizuho lifted their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Barclays initiated coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. UBS Group upped their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Citigroup raised their price objective on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $522.21.

McKesson 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.