WBI Investments Inc. Raises Stock Holdings in McKesson Co. (NYSE:MCK)

WBI Investments Inc. boosted its position in shares of McKesson Co. (NYSE:MCKFree Report) by 52.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,436 shares of the company’s stock after buying an additional 2,559 shares during the period. WBI Investments Inc.’s holdings in McKesson were worth $3,233,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Park Place Capital Corp boosted its holdings in shares of McKesson by 11.7% during the 2nd quarter. Park Place Capital Corp now owns 230 shares of the company’s stock worth $98,000 after purchasing an additional 24 shares during the last quarter. Key Financial Inc boosted its holdings in shares of McKesson by 13.0% during the 2nd quarter. Key Financial Inc now owns 218 shares of the company’s stock worth $93,000 after purchasing an additional 25 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of McKesson by 1.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after purchasing an additional 25 shares during the last quarter. First Foundation Advisors boosted its holdings in shares of McKesson by 2.7% during the 2nd quarter. First Foundation Advisors now owns 1,035 shares of the company’s stock worth $442,000 after purchasing an additional 27 shares during the last quarter. Finally, River Wealth Advisors LLC boosted its holdings in shares of McKesson by 1.8% during the 2nd quarter. River Wealth Advisors LLC now owns 1,579 shares of the company’s stock worth $675,000 after purchasing an additional 28 shares during the last quarter. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on MCK. TD Cowen upped their price objective on McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a report on Monday, December 11th. Morgan Stanley upped their price target on McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Citigroup boosted their target price on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Company started coverage on McKesson in a research report on Thursday, December 14th. They set an “equal weight” rating and a $502.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $511.54.

Get Our Latest Research Report on McKesson

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.

McKesson Stock Performance

Shares of McKesson stock opened at $501.35 on Monday. The company has a market capitalization of $65.88 billion, a P/E ratio of 22.72, a PEG ratio of 1.70 and a beta of 0.44. McKesson Co. has a 1 year low of $331.75 and a 1 year high of $519.75. The company’s fifty day moving average is $475.11 and its two-hundred day moving average is $451.85.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter last year, the company posted $6.90 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. As a group, equities analysts expect that McKesson Co. will post 27.58 earnings per share for the current year.

McKesson Announces Dividend

The business 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 of this dividend is Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a yield of 0.49%. McKesson’s payout ratio is 11.24%.

McKesson Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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