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

Fifth Third Wealth Advisors LLC boosted its position in McKesson Co. (NYSE:MCK) by 17.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 846 shares of the company’s stock after buying an additional 124 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in McKesson were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in shares of McKesson by 140.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company’s stock worth $1,747,000 after purchasing an additional 1,747 shares during the last quarter. Dimensional Fund Advisors LP grew its position in McKesson by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 395,150 shares of the company’s stock worth $230,821,000 after purchasing an additional 21,832 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of McKesson by 0.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 20,394 shares of the company’s stock valued at $11,911,000 after buying an additional 63 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of McKesson by 16.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 65,412 shares of the company’s stock valued at $38,176,000 after buying an additional 9,263 shares during the period. Finally, Waterloo Capital L.P. purchased a new stake in shares of McKesson in the second quarter worth about $246,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCK. Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. 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 research note on Friday, December 13th. Finally, Leerink Partners reduced their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Stock Performance

Shares of MCK stock opened at $594.62 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The stock’s fifty day moving average is $595.77 and its two-hundred day moving average is $561.06. The firm has a market capitalization of $75.48 billion, a P/E ratio of 30.79, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping 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 analyst estimates of $89.33 billion. During the same period in the previous year, the business posted $6.23 earnings per share. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. On average, equities analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

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